SECP registered 1,187 companies in August

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) had registered 1,187 new companies in August 2019, out of which 94pc companies were registered online through eServices, while 52pc companies were registered within the same day.

The August registrations have raised the number of total companies to 104,030, a statement issued by SECP on Thursday read.

According to the commission, the increasing trend in the registration of new companies is due to simplified and hassle-free procedures for company incorporation.

Out of the total number of companies registered in August, 71pc were registered as private limited companies, 26pc as single-member companies and 3pc as public unlisted companies, not for profit associations, trade organisations, foreign companies and limited liability partnership (LLP).

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The trading sector took the lead with 192 companies, followed by services with 148, construction with 132 and IT with 120.

As many as 595 companies were registered in tourism, real estate development, education, food and beverages, engineering, corporate agricultural farming, marketing and development, chemical, mining and quarrying, textile, pharmaceutical, transport, fuel and energy, healthcare, auto and allied, communication, logging and power generation sectors.

Foreign investments were reported in 38 new companies. These included investments from China, Denmark, Ireland, Italy, Korea South, Mauritius, Norway, Saudi Arabia, Switzerland, the UK and the US.

The highest numbers of companies (434) were registered in Islamabad, followed by 316 in Lahore and 189 in Karachi.

The CROs in Peshawar, Multan, Gilgit-Baltistan, Faisalabad, Quetta and Sukkur registered 81, 56, 47, 45, 13 and six companies respectively.

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