Thursday, November 14, 2019

SECP registers 1,317 new companies in January

Featured

Trump said: Sondland is great American now President’s famous ‘U-turn’

President Donald Trump has a history of distancing himself from associates who have found themselves in legal trouble or...

Babri mosque: Indian Supreme Court ruled in favor of Hindus in a dispute over a religious position with Muslims

India's Supreme Court on Saturday ruled in favor of a Hindu group in a long-running legal battle over a...

France Visa: New point-based skilled immigrant program to be enforced by summer 2020

France will introduce new point-based skilled immigrant program (France Visa), will come to force by summer 2020. French government...
Zain Zubair
Zain Zubair
Zain Zubair is a staff writer for World News Observer. He is studying ACCA in Pakistan. Besides Accountancy and writing pieces, he loves cooking and nature photography. Zain has attended various modern journalism workshops. Contact: [email protected]
In January, the Securities and Exchange Commission of Pakistan (SECP) registered 1,317 new companies. As compared to the corresponding month of last financial year, it represents a growth of 9 percent, raising the number of registered companies to over 95,000.

The massive increase is the result of the SECP’s various reforms measures, i.e. introduction of simplified combined process for name reservation and incorporation, one window facility for company incorporation and NTN generation, reduction of fee, assistance of incorporation by facilitation wings of CROs etc.

 

Around 73 percent companies were registered as private limited companies, while around 24 percent were registered as single-member companies. Three percent were registered as public unlisted, non-profit associations, foreign companies and limited liability partnership (LLP).

 

The trading sector took the lead with the incorporation of 214 companies, services with 185,  construction with 180, I.T. with 128, tourism with 74, food and beverages with 43, education,  marketing and advertising, and real estate development with 42 each, transport with 40, corporate agricultural farming with 37, engineering with 30, communication, and  pharmaceutical with 24 each, textile with 19, mining and quarrying with  18, broadcasting and telecasting, and fuel and energy with 16 each,  chemical and cosmetics and toiletries with 13 each, cables and electric goods, lodging, and power generation with 12 each,  healthcare with 11, and 70 companies were registered in other sectors.

Foreign investment has been reported in 61 new companies. These companies have foreign investors from China, Egypt, Germany, Hong Kong, Italy, Japan, Luxembourg, Malaysia, Morocco, Netherlands, Qatar, Saudi Arabia, Sri Lanka, Sweden, UK, and US.

The highest numbers of companies, i.e. 477, were registered in Islamabad, followed by 346 and 274 registered in Lahore and Karachi respectively. The CROs in Peshawar, Multan, Gilgit-Baltistan, Faisalabad, Quetta, and Sukkur registered, 82, 56, 39, 25, 14 and 4 companies respectively.

Zain Zubair
Zain Zubair
Zain Zubair is a staff writer for World News Observer. He is studying ACCA in Pakistan. Besides Accountancy and writing pieces, he loves cooking and nature photography. Zain has attended various modern journalism workshops. Contact: [email protected]

Latest News

Trump’s removal measures: US Poll reveals support for 50 percent of Americans to the House of Representatives

The Politico Foundation released the results of a US Poll in conjunction with Trump's impeachment measures, revealing that 81%...

New UK Guidelines on EU Citizens residence

Britain is threatening to deport EU citizens if they do not apply in time for a new immigration status after Britain leaves the bloc...

US appeals court upholds decision to disclose Trump’s financial records

Trump's financial records: A US appeals court said on Wednesday it would not review an October decision ordering President Donald Trump's accounting firm to...

Ukrainian president offers 10 percent bonus for bribery and corruption reporting

Ukrainian President Volodymyr Zelensky has signed a law to pay 10 percent of confiscated money to those reporting corruption-related crimes to the authorities. The Ukrainian...

Morales condemns US recognition of the new government in Bolivia

Bolivia's former president, Evo Morales on Wednesday denounced the United States' recognition of his country's self-proclaimed "de facto" government since he left the country. The...
- Advertisement -

Related News