The Securities and Exchange Commission of Pakistan (SECP) has registered 1,130 new companies in the month of December.
In comparison to the same month of the last financial year, it has shown a growth of 43 per cent, hence causing an increase in the number of registered companies to 94,205.
This huge increase is because of the SECP’s multiple reform steps, including the introduction of a simple yet combined process for the reservation and incorporation of the name, fee reduction,the help of incorporation by providing wings of CROs etc.
Nearly 47pc firms were registered as private limited companies, while nearly 24pc were registered as single member firms. 2pc of the companies were registered as public unlisted, foreign firms, non-profit organizations and limited liability partnerships (LLP).
The trading sector superseded all with the registration of 201 new firms, followed by IT with 138 companies, then came,
Registered New Firms in Dec 2018
|Sector||Number of Companies Registered|
|Food and beverages||35|
|Real Estate Development||33|
|Engineering, and Marketing & Advertisement||32 each|
|Corporate Agricultural Farming||27|
|Chemical, Fuel and Energy||16|
|Mining and quarrying||16|
|Paper and board||15|
|Auto and Allied||12|
57 new companies have reported of foreign investment. These firms include the foreign investors from China, Vietnam, Canada, the USA, Greece, the UK, Hungary, Tunisia, Japan, Thailand, Kenya, Switzerland, the Netherlands, Sweden, New Zealand, Sri Lanka, Norway, South Africa the Philippines and the Kingdom of Saudi Arabia.
The highest count of firms was recorded in the federal capital, followed by Lahore with 301 and then Karachi with 205 companies. Whereas, in Peshawar 88 companies were registered, in Multan 53, in Faisalabad 47, in Quetta and Sukkur 9 and 2 new companies were registered respectively.