SECP registers 1,392 firms in September

Updated Oct 12 2019

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The Securities and Exchange Commission of Pakistan (SECP) registered 1,392 new companies in September, raising the total number of incorporated companies to 105,407. — Reuters/File
The Securities and Exchange Commission of Pakistan (SECP) registered 1,392 new companies in September, raising the total number of incorporated companies to 105,407. — Reuters/File

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) registered 1,392 new companies in September, raising the total number of incorporated companies to 105,407.

The commission said 96 per cent companies were enrolled through online eService.

Around 69pc of the companies registered in the month were private limited, 27pc single member companies and the remaining 4pc companies included public unlisted companies, trade organisations, foreign companies, Limited Liability Partnership and not-for-profit associations.

Of the total firms registered in September, around 50pc were incorporated on the same day whereas around 85 foreign applicants registered their firms using the online eService.

During the month, 51 new companies were incorporated with foreign shareholders mainly from China, Denmark, Germany, Hong Kong, Japan, Korea South, Malaysia, the Netherlands, Nigeria, Poland Singapore, South Africa, Switzerland, Turkey, United Arab Emirates, United Kingdom, United States and Yemen.

Sector wise details showed that among new registrations, 239 companies were registered in the trading sector, construction and service with 173 each, information technology with 148, tourism with 79 and real estate development with 54 companies.

Published in Dawn, October 12th, 2019