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SECP registers 83,879 companies by end-2017

SECP registers 83,879 companies by end-2017

ISLAMABAD: Securities and Exchange Commission (SECP) has said the company registration has increased to 83,879 by end of year 2017, according to a statement issued on Tuesday.

In the first half of current financial year, the commission registered 4,954 new companies, raising the total number of companies to 83,879. As compared to the corresponding month of last financial year, it represents a growth of 44 percent.

The massive increase in number of new companies is the result of the SECP’s various reform measures, i.e. simplification of incorporation procedure, reduction in fee, assistance in incorporation by facilitation wings at CROs etc.

Around 82 percent of companies were registered as private limited companies, while around 16 percent were registered as single-member companies. Two percent of the companies were registered as public unlisted, non-profit associations, trade organizations and foreign companies.

The trading sector took the lead with the incorporation of 783 companies, services with 729, construction with 625, information technology with 599, tourism with 274, food and beverages with 164, engineering with 155, education with 148, corporate agricultural farming with 126, real estate development with 106, transport with 100, pharmaceutical with 86, textile with 77, communication with 76, fuel and energy with 75, auto and allied and healthcare with 71 each, cable and electric goods with 58, broadcasting and telecasting with 57, chemical with 55, power generation with 47, paper and board with 46, mining and quarrying with 45, steel and allied with 38, cement with 9 and 334 companies were registered in other sectors. Moreover, 35 foreign companies were also registered by the CROs in Karachi, Lahore and Islamabad.

Foreign investment has been reported in 329 new companies. These companies have foreign investors from Afghanistan, Australia, Austria, Azerbaijan, Belarus, Belgium, Canada, Cayman Islands, China, Denmark, Egypt, Germany, Greece, Hong Kong, Indonesia, Iran, Ireland, Italy, Jordan, South Korea, Lebanon, Macedonia, Malaysia, Mauritius, Mexico, Netherlands, Nigeria, Norway, Philippines, Poland, Russia, Saudi Arabia, Singapore, South Africa, Spain, Sri Lanka, Sweden, Switzerland, Taiwan, Thailand, Turkey, UAE, the UK, Ukraine and the US.

During the month, the highest numbers of companies, i.e. 1,714 were registered at Islamabad CRO, followed by 1,442 and 987 registered at Lahore and Karachi CROs respectively. The CROs in Peshawar, Multan, Faisalabad, Quetta, Gilgit-Baltistan and Sukkur registered 311, 228, 105, 64, 79 and 24 companies respectively.