ISLAMABAD, Jan 2: The Securities and Exchange Commission of Pakistan (SECP) registered 4,461 companies last year compared to 4,837 companies it registered during 2007.

The total registered companies included 4,153 private companies, 175 single member companies, 67 public companies, 39 associations not for profit licensed under section 42 of the Companies Ordinance 1984, 25 foreign companies, and one company limited by guarantee, under Section 43.

The total corporate portfolio as on December 31, 2008 reached 52,612 registered entities.

Total authorised capital and paid-up capital of the companies registered during the year, amounted to Rs167.25 billion and Rs23.76 billion, respectively.

The highest number of company incorporation was witnessed in the services sector comprising of 665 companies, followed by 489 in trading sector, 261 in construction sector, 204 in information technology, 195 in communication sector, 135 in food and beverages, 119 in textile and 106 in engineering sector.

Despite the global recession globally as well the economic slowdown in Pakistan, the trend of new registration of companies has remained consistent with last year, the SECP officials said.

According to an official announcement issued here on Friday by the SECP, this trend had been made possible due to the facilitation and market development reforms undertaken by the SECP, in it registration regime.

An important milestone has also recently been achieved in 2008, by launching its eServices, which facilitates the availability of name, incorporation of companies and filing of statutory returns, through online systems.

SECP will continue to encourage the corporatisation of businesses to contribute towards the progressive development of the economy and healthy growth of corporate sector.