Tuesday, October 20, 2020

SECP registers 1,317 new companies in January

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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]

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