A whopping number of 5626 new companies are registered during the current fiscal year (2015-16) in Pakistan as registered by The Securities and Exchange Commission of Pakistan (SECP).
The number denotes a growth of 24% as compared to the preceding period last year. In the previous year, the growing trend was missing but a significant rise in the current fiscal year in company incorporation is the clear indication of the SECP which has undertaken numerous facilitation measures.
Last month, in May 2016, record breaking 641 companies were registered by the SECP which is 50% more than from the month of May in the last year.
228 new companies were registered at the Company Registration Office (CRO), Islamabad, followed by:
• 200 at Lahore
• 144 at Karachi
• 28 at Peshawar
• 21 at Multan
• 19 at Faisalabad
• 1 at Sukkur
Among the list of new registered companies, 88% of them were Private Limited Companies, while 8% of the registered companies were registered as Single-Member Companies. 4% of the companies were registered as public unlisted, associations, non-profit and foreign companies.
The break-up of companies in different sectors:
• Trading Sector with 85 companies
• Services with 67
• Information Technology with 64
• Construction with 50
• Tourism with 41
• Communication with 24
A considerable amount of companies were opened up in the fuel and energy sector with 22 while real estate development and corporate agriculture farming with 21 companies each. There were some other sectors like food and beverages (19), engineering (18), textile and education (17), broadcasting and telecasting (16), power generation and pharmaceutical (14), transport (13), auto and allied (12), health care (11) and 95 companies were registered in other sectors.
Moreover, 7 foreign companies were also registered by the CROs in Islamabad, Lahore and Peshawar. Furthermore, 45 companies received foreign investment from Afghanistan, Australia, Canada, China, Italy, Japan, Jordan, Malaysia, Thailand, Turkey, UK, and the US.
image credit: gettyimages.com
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