THE EXPRESS TRIBUNE, ISLAMABAD, 10th OCTOBER 2013: The Securities and Exchange Commission of Pakistan (SECP) registered 332 limited-liability companies in the month of September, raising the total corporate portfolio to 62,571 companies, said a press release issued on Wednesday.
In the corresponding month of last year, 244 companies were registered, showing a growth of over 36%.
In addition, the SECP issued licences to five non-profit associations under the section 42 of the Companies Ordinance, 1984.
Around 92% companies were registered as private-limited companies, while about 6% companies were registered as single-member companies. Around 1% of the companies had been registered as foreign companies and associations under the section 42 of the Companies Ordinance, 1984.
The services sector took the lead in new registrations, yet again, with incorporation of 41 companies, followed by trading with 38, information technology with 31, tourism with 25, construction and food and beverages with 18 each, communications and engineering with 12 each and, broadcasting, and corporate agricultural farming with 11 companies each.
Foreign investment had been witnessed in 19 new companies. These companies have foreign investors from China, Lebanon, Belgium, Jordan, South Korea, Singapore, Malaysia, Ukraine, Russia, South Africa, Nigeria, Afghanistan, Bahrain and Japan. These companies are from trading, auto and allied, pharmaceutical, construction, food and beverages, mining and quarrying, power generation, services, tourism, transport and vanaspati (vegetable oils) sectors.
The highest number of companies, 110 were registered at the company registration office (CRO) in Islamabad, followed by the CROs in Lahore and Karachi, registering 95 and 80 companies, respectively. The Faisalabad and Peshawar CROs registered 15 companies each, while the CROs in Multan and Quetta registered 12 and five companies, respectively.