ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) incorporated 1,395 new companies in October, taking the total number of registered entities to 92,109.
According to the SECP data, registration of companies has grown by 63 per cent from corresponding period last year. The commission attributed this increase to various reforms measures, including introduction of simplified combined process for name reservation and incorporation, reduction of fee, assistance of incorporation by facilitation wings of CROs etc.
Around 73pc companies were registered as private limited, 25pc as single-member companies, and the remaining 2pc as public unlisted, non-profit associations, foreign companies and limited liability partnership (LLP).
Trading sector took the lead with the incorporation of 213 companies, construction 183, services 170, information technology 150, tourism 90, marketing and advertisement 47, real estate development 43, engineering 39, food and beverages 38, corporate agricultural farming, and transport with 37 each, education 36, healthcare 27, mining and quarrying 24, textile 23, chemical and pharmaceutical with 21 each, auto allied 19, logging 18, communication 15, fuel and energy 14, paper and board 13, steel and allied 11 and 106 companies in other sectors.
Moreover, two foreign companies were also registered by Islamabad CRO. Foreign investment has been reported in 65 new entities, with investors from, China, France, Germany, Indonesia, Iran, Italy, Japan, Jordan, Lebanon, Malaysia, the Netherlands, Nigeria, Norway, Saudi Arabia, Singapore, Sri Lanka, Thailand, Turkey, the UK and the US.
Published in Dawn, November 7th, 2018