SECP integrated 1,395 fresh companies in October 2018

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) registered 1,395 new companies in October 2018, demonstrating a development of 63% as compared to the corresponding month of last financial year. Also, over 50% companies were registered within four hours after getting the registration application.

According to the data, the overall number of companies registered with SECP has increased to 92,109.

It is also observed that, the enormous augmentation in the registration is the outcome of SEPP’s different reforms & measures, including preamble of basic combined process for name reservation and incorporation, lessening of fee, support of incorporation by facilitation section of CROs etc.

Furthermore, almost 73% companies were registered as private limited companies, and 25% were registered as single-member companies and 2% were registered as public unlisted, non-profit associations, foreign companies and limited liability partnership (LLP).

However, the trading segment took the lead in numerous registrations with almost 213 companies, construction with 183, services with 170, I.T. with 150, tourism with 90, marketing and advertisement with 47, real estate development with 43, engineering with 39, food and beverages with 38, corporate agricultural farming, and transport with 37 each, education with 36, healthcare with 27, mining & quarrying with 24, textile with 23, chemical, and pharmaceutical with 21 each, auto allied with 19, logging with 18, communication with 15, fuel and energy with 14, paper and board with 13, steel and allied with 11 and 106 companies were registered in other sectors.

Moreover, it is recorded that two foreign companies were also registered by CROs Islamabad.

Also, foreign investment has been stated in 65 new companies. These companies includes foreign sponsors from, China, France, Germany, Indonesia, Iran, Italy, Japan, Jordan, Lebanon, Malaysia, the Netherlands, Nigeria, Norway, Saudi Arabia, Singapore, Sri Lanka, Thailand, Turkey, the UK and the US.

The maximum number of companies, that is 530 were registered in Islamabad, followed by 398 and 242 companies registered in Lahore and Karachi respectively.

However, the CROs in Peshawar, Multan, Faisalabad, Gilgit-Baltistan, Quetta, and Sukkur registered, 75, 69, 41, 24, 8 and 8 companies respectively.