The Securities and Exchange Commission of Pakistan (SECP) registered 366 new limited liability companies in June, bringing the total corporate portfolio of 61,990 companies.
In the corresponding month, last year, 364 companies were registered. The SECP continued its efforts to promote corporatization in the country, through various seminars with all stakeholders, awareness campaigns and facilitation extended including provision of fast track registration services, says a statement issued by the commission here on Thursday.
Around 87 percent companies registered as private limited companies, while around 7 percent companies registered as single member companies. Around 3 percent companies have been registered as associations under Section 42 of the Companies Ordinance 1984, 2 percent companies registered as public limited companies, and 1 percent as foreign companies, during the month.
The trading and services sectors have again taken the lead in new
registrations with the incorporation of 46 and 45 new companies, respectively, followed by IT with 33 companies, tourism with 31, construction and corporate agricultural farming with 18 companies each, communications with 16, education with 14 and textile with 12 companies.
Foreign investment has been witnessed in 13 new companies. These companies have foreign investors from Iraq, UK, US, Panama, UAE, Jordan, Germany, Spain, Bulgaria, China and Denmark. It is pertinent to mention that the SECP introduced a fast track provisional registration of companies having foreign directorship with the aim to facilitate foreign investment in Pakistan.
During the month of June number of companies, i.e., 120 were registered at the Company Registration Office (CRO), Islamabad, followed by CROs in Lahore and Karachi, registering 117 and 80 companies, respectively.
The Multan and Peshawar CROs registered 22 and 15 companies respectively, while the CROs in Quetta and Faisalabad registered 6 companies each.
During the month, returns for an increase in the authorized capital of
198 companies were accepted, with the total authorized capital increment of Rs16.03 billion.
In addition, 121 companies filed returns for an increase in the paid-up capital with the total enhancement amounting to Rs17.19 billion.
