SECP registers 427 new companies in February
- March 11, 2014, 7:06 pm
- Science & Technology News
- 202 Views
ISLAMABAD, March 11 (Online): The Securities and Exchange Commission of Pakistan (SECP) registered 427 new limited liability companies in February, raising the total corporate portfolio to 62,865 companies.
Of the total companies registered, 92% were registered as private limited companies, 6% as single-member companies and the remaining 2% include foreign companies, public limited companies and non-profit associations.
Compared to February 2013, 21% growth has been witnessed in company registrations. In addition, the SECP granted licenses to 4 non-profit associations.
The services and trading sectors took the lead in new registrations with the incorporation of 57 companies, followed by tourism with 44, information and technology with 38, construction with 36, corporate agricultural farming and textile with 16 , and communications with 15 companies respectively.
Foreign investment has been witnessed in 24 new companies. These companies have foreign investors from Austria, Afghanistan, China, Denmark, Germany, Norway, Panama, Poland, Russia, Sudan, Sweden, the UK and the US. The companies deal in auto and allied, communications, construction, information technology, mining and quarrying, paper and board, pharmaceutical, services, sport goods, textile, trading and transport sectors.
In February, 130 companies were registered at the Company Registration Office (CRO), Lahore, followed by 126 and 97 companies registered at CRO Islamabad and Karachi respectively. Further the CROs in Multan, Peshawar and Faisalabad registered 33, 17 and 16 companies. In addition, the CROs in Quetta and Sukkur registered 6 and 2 companies respectively.
During the month, returns for increase in the authorized capital of 74 companies were accepted, with total authorized capital increment of Rs26.55 billion. Furthermore, 86 companies filed returns for increase in their paid-up capital with the total increase of Rs7.53 billion.
