Wednesday, April 8, 2020

SECP registers 1,317 new companies in January

Featured

Russia begins clinical trials of Coronavirus drugs

The press service of the Russian Federal Biomedical Agency announced that clinical trials based on mefloquine, hydroxychloroquine and caledavir...

Coronavirus: UK Premier transferred to intensive care

British Prime Minister Boris Johnson was transferred to intensive care tonight at St Thomas hospital after his condition deteriorated...

New York: 102,863 Coronavirus cases, escalating daily

New York Governor Andrew Como has announced that the number of Coronavirus cases in the state has risen to...
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

ExxonMobil Reduces 2020 Capex by 30%, Cash Opex by 15%; Maintains Long-Term Outlook

ExxonMobil said today it is reducing its 2020 capital spending by 30 percent and lowering cash operating expenses by...

Russia begins clinical trials of Coronavirus drugs

The press service of the Russian Federal Biomedical Agency announced that clinical trials based on mefloquine, hydroxychloroquine and caledavir drugs for the treatment of...

Coronavirus: UK Premier transferred to intensive care

British Prime Minister Boris Johnson was transferred to intensive care tonight at St Thomas hospital after his condition deteriorated following his coronavirus hospitalization. This...

New York: 102,863 Coronavirus cases, escalating daily

New York Governor Andrew Como has announced that the number of Coronavirus cases in the state has risen to 102,863. He said: "New York is...

Pakistan: ABAD terms Construction Incentives as historic

Chairman Association of Builders and Developers of Pakistan (ABAD) Mohsin Sheikhani has termed the incentives announced by Prime Minister Imran Khan as a historic...

Related News