ISLAMABAD, Dec 4: The companies' incorporation with the Securities and Exchange Commission of Pakistan witnessed an increase of 51 per cent in November this year.

The SECP announced here on Saturday that it registered a total of 194 companies in November as compared to 128 companies registered during the corresponding month last year. Of the 194 companies, 191 were limited by shares.

The company registration offices (CROs) Karachi, Lahore and Islamabad registered 76, 68 and 30 companies, respectively.

Besides 191 companies limited by shares, two associations and a foreign company were also registered. Total authorized capital of the companies limited by shares amounted to Rs1,721.5 million.

These companies consisted of six public companies with an authorized capital of Rs188 million, 183 private companies with an authorized capital of 1,530.5 million and two single-member companies with a capital of Rs3 million.

The import-export sector remained the most flourishing one in terms of number of new registration. Twenty-nine companies were registered in this sector, followed by 18 companies registered in communication and 18 in services sector.

The total 44,810 companies were at work till November, including 2,807 public companies, 40,739 private companies, 178 single-member companies, 504 associations not for profit, companies limited by guarantee and trade organisations, 578 foreign companies and five companies with unlimited liabilities.

This is an increase of six per cent as compared to 42,162 companies registered up to November 30 last year.

The growth of companies' incorporation witnessed a 49 per cent increase during the last 12 months as compared to the corresponding period last year. During December 1, 2003 to November 30, 2004, the number of new companies registered was 2,522 against 1,691 companies registered during the preceding 12 months.