The Securities and Exchange Commission of Pakistan (SECP) has announced that it has registered 386 new companies in July 2016. The SECP made the announcement via a public release.
The break-up of the 386 companies is as following:
85% of the companies are private limited
12% of the registered companies are single-member entity
3% of the companies are registered as unlisted, non-profit and foreign companies
During the month of July, 130 companies were registered at the Company Registration Office (CRO) Islamabad. CRO offices of Lahore and Karachi registered 124 and 88 companies respectively. The CROs in Multan, Peshawar, Faisalabad and Quetta registered 18, 13, 12 and companies respectively. One company was registered in the CRO office of Quetta.
Trading sector lead the chart with 61 companies
The trading sector managed to take a lead of 16 companies as they registered 61 companies with SECP. The sector of services was ranked No. 2 with the registration of 45 companies. The further breakdown is as following:
1- Construction sector registered 42 companies
2- IT sector registered 37 companies
3- Tourism sector incorporated 23 companies
4- Engineering sector listed 14 companies
5- Real estate, auto and allied registered 13 companies each
6- Textile sector incorporated 12 companies
7- Sector of food and beverages registered 11 companies
Moreover, fuel, energy and pharmaceutical sector registered 10 companies each. As many as 95 companies were registered in other sectors. 5 foreign companies also registered themselves with the SECP.
Foreign investment
According to the press release, foreign investment was reported in 32 new companies. The investment came from Afghanistan, Australia, Canada, China, France, Italy, Kazakhstan, Malaysia, Netherlands, Puerto Rico, Singapore, Spain, Thailand, UK and the US.
These companies are from auto and allied, communications, construction, corporate agricultural farming, food and beverages, fuel and energy. Some other companies are IT, paper and board, power generation, services, steel and allied, trading, transport and miscellaneous sector.
The upsurge in the number of companies registering with SECP is primarily due to increased foreign investment and startup culture. Recent report indicated a growth of 24% as SECP registered 5626 new companies in Pakistan in less than a year.
image credit: Getty
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