SECP registers 386 companies in July

ISLAMABAD (Staff Report) - The Securities and Exchange Commission of Pakistan (SECP), during the month of July, registered 386 new companies, witnessing an increase of 11 percent as compared to same period last year.

Around 86 percent of companies have been registered as private limited companies, while around nine percent were registered as single-member companies.

According to a statement here Monday, five percent of the companies were registered as public unlisted, non-profit associations, trade organizations and foreign companies.

The services sector took the lead with the incorporation of 58 companies, followed by trading with 48, information technology with 38, tourism with 27, construction with 26, engineering with 14, corporate agricultural farming with 13, textile with 12, communications and education with 11 each and power generation with 10 companies.

Moreover, four foreign companies were also registered by the CROs in Islamabad, Karachi and Lahore.

Foreign investment has been reported in 20 new companies. These companies have foreign investors from Afghanistan, Australia, China, Germany, Indonesia, Italy, Libya, New Zealand, Norway, Qatar, Singapore, South Korea, Tunisia, the US and UK.

These companies are from auto and allied, communications, food and beverages, information technology, power generation, real estate development, services, trading and transport sectors. During the year, the highest numbers of companies (136) were registered at the Company Registration Office (CRO), Lahore, followed by 106 and 86 registered at CRO Islamabad and Karachi respectively.

The CROs in Multan, Faisalabad, Peshawar, Quetta and Sukkur registered 25, 13, nine, eight and three companies respectively.