ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) has said that total registration of corporate registration has crossed over 95,000 units following 1,317 new registrations in January 2019.
The SECP attributed this increase to ongoing reforms, which include introduction of simplified combined process for name reservation and incorporation, one window facility for company incorporation and NTN generation, reduction of fee, assistance of incorporation by facilitation wings of CROs etc.
In January, the SECP registered 1,317 new companies. As compared to the corresponding month of last financial year, it represents a growth of 9 percent, raising the number of registered companies to over 95,000.
Around 73 percent companies were registered as private limited companies, while around 24 percent were registered as single-member companies.
Three percent were registered as public unlisted, non-profit associations, foreign companies and limited liability partnership (LLP).
The trading sector took the lead with the incorporation of 214 companies, services with 185, construction with 180, I.T. with 128, tourism with 74, food and beverages with 43, education, marketing and advertising, and real estate development with 42 each, transport with 40, corporate agricultural farming with 37, engineering with 30, communication, and pharmaceutical with 24 each, textile with 19, mining and quarrying with 18, broadcasting and telecasting, and fuel and energy with 16 each, chemical and cosmetics and toiletries with 13 each, cables and electric goods, lodging, and power generation with 12 each, healthcare with 11, and 70 companies were registered in other sectors.
Foreign investment has been reported in 61 new companies. These companies have foreign investors from China, Egypt, Germany, Hong Kong, Italy, Japan, Luxembourg, Malaysia, Morocco, the Netherlands, Qatar, Saudi Arabia, Sri Lanka, Sweden, the UK, and the US.
The highest numbers of companies, i.e. 477, were registered in Islamabad, followed by 346 and 274 registered in Lahore and Karachi respectively. The CROs in Peshawar, Multan, Gilgit-Baltistan, Faisalabad, Quetta, and Sukkur registered, 82, 56, 39, 25, 14 and 4 companies respectively.