An increase in incorporation of companies was witnessed as the registration of new companies jumped by 31 per cent with Securities and Exchange Commission of Pakistan (SECP) registering 356 companies in January as compared to 271 companies during December last year. According to the figures released by SECP, during the current financial year, a total of 1,942 companies have been registered compared to 1,700 during the corresponding period of last financial year, reflecting an increase of 14 per cent.
The private companies have the highest share in new incorporation totaling to 323, followed by 21 single-member companies, two public unlisted companies, five non-profit association and foreign companies each registered during January. Out of the five foreign companies, one each from US, Switzerland, Turkey, Hong Kong and Sri Lanka were registered in Lahore. Foreign investment by AJK nationals was witnessed in two new local companies registered in Islamabad in trading and consultancy services. Nationals from China and Turkey also registered two new local companies in Karachi and Lahore respectively in leather and tanneries, and IT sectors, respectively.
Sector-wise positions show that services sector had the highest new incorporation of 53 companies, followed by trading 41 companies, hajj and umrah services 29 companies, construction 23 companies, IT 16 companies, food and beverages 15 companies, engineering 14 companies, textile and communications 13 companies each, corporate agricultural farming 12 companies, tourism 11 companies and pharmaceuticals 10 companies.
Company Registration Office (CRO), Lahore registered 102 companies followed by CROs Karachi and Islamabad registering 100 and 97 companies, respectively. The remaining CROs Peshawar, Faisalabad, Multan and Quetta registered 25, 18, eight and six companies, respectively.
Companies registration jumps by 31 per cent in January
