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SECP: Registration of 405 companies depicts 22% increase

SECP: Registration of 405 companies depicts 22% increase

KARACHI: As many as 405 new companies were registered with the Securities and Exchange Commission of Pakistan (SECP) in September, depicting a 22 percent increase over the same month last year.

Around 91 percent of them have been registered as private limited companies while six percent and three percent of them were registered as single-member and public limited companies respectively.

Twelve of the registered companies belong to foreign investment sector having investors from Australia, Canada, China, Denmark, Germany, the Netherlands, Singapore, Sweden, Turkey, the UK and the US.

These companies are from trading, information technology, power
generation, auto and allied, chemical, fuel and energy, and mining and quarrying sectors.

Of the 405 companies registered in September, 132 were registered at the Company Registration Office (CRO) in Lahore, followed by 113 and 109 companies registered in Karachi and Lahore CROs respectively. The CROs in Peshawar, Multan, Faisalabad and Sukkur registered 23, 13, 10 and 3 companies respectively, while the CRO in Quetta registered 2 companies.

Returns for an increase in the authorised capital of 71 companies were accepted, with the total authorised capital increment of Rs 143.36 billion. In addition, 92 companies filed returns for increase in the paid-up capital with the total increment amounting to Rs 6.82 billion.