1,000 new companies registered in September

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has registered 1,070 new companies in September, witnessing a growth of 50 per cent as compared to the corresponding period last year.

In a statement issued by the SECP, the rise in the number of registered companies, which is 90,722 in total now, was due to various reforms that were undertaken by the commission. These reforms included the introduction of a simplified combined process for name reservation and incorporation, reduction of fee and assistance of incorporation by the facilitation wings of Company Registration Offices (CRO).

Around 73 per cent companies were registered as private limited companies, while around 25 per cent were registered as single-member companies, whereas the remaining companies were registered as public unlisted, non-profit associations, foreign companies and limited liability partnership.

 

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