ISLAMABAD, April 8: The Securities and Exchange Commission of Pakistan (SECP) registered 295 companies during March 2005 as compared to 207 during the same month last year, showing an increase of 37 per cent. Of the total 295 companies registered during the month, 284 were limited, including two public unlisted companies, 272 private and 10 single-member companies, a press release issued by the commission here on Friday said.
In addition to this, six foreign companies and five associations not-for-profit were also registered, it added.
The Companies Registration Office (CRO) at Lahore registered the highest number of 101 companies, followed by Karachi and Islamabad CROs registering 92 and 80 companies respectively. The CROs of Faisalabad, Multan, Peshawar and Quetta registered seven, six, seven and one company respectively.
The commission also gives licence to companies being formed as associations not for profit. During March 2005 four such companies were granted licences.
The SECP also approved 13 companies for alteration in their memorandum of association. The total authorized capital and paid-up capital of the 284 limited-by-shares companies registered during the month amounted to Rs6.870 billion and Rs301.91 million respectively.
Out of these, 272 were private companies having authorized capital and paid-up capital of Rs6.776 billion and Rs296.91 million, 10 single-member companies with an authorized capital and paid-up capital of Rs9.8 million and Rs4.7m and two public companies with an authorized capital and paid-up capital of Rs35m and Rs0.3m respectively.
A total of 52 companies have raised their authorized capital during the month with an increment of Rs2.756 billion.
The most flourishing sector in terms of number of new registration was the services sector whereby 45 companies were registered, followed by 32 companies registered in trading sector and 28 in real estate development sector.
The month’s new incorporation brought the commission’s total portfolio of registered corporate sector to 45,612 companies as on March 31, 2005, of which 2,809 public companies, 41,470 private companies, 219 single member companies, 291 associations not-for-profit, 56 companies limited by guarantee, 167 trade organizations, 595 foreign companies and 5 companies with unlimited liabilities. This is an increase of seven per cent as compared to 42,839 companies registered up to March 31, 2004.
