6,200 new firms enrolled

6,200 new firms enrolled

6,200 new firms enrolled ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) registered 6,200 new companies during the outgoing fiscal year, a growth of 24 per cent in comparison with 2014-15.

In June 2016, the SECP registered 573 companies. The commission attributed this growth in incorporation to the recent facilitation measures including reduced fees and the implementation of the Fast-Track Registration Services (FTRS).

Around 87pc of the companies registered in June were private limited companies, while 9pc were registered as single-member companies and the remaining as public unlisted, non-profit associations and foreign companies.

Of the companies registered in June the services sector took the lead by incorporating 75 companies, followed by construction with 56, information technology; 55, trading; 54, tourism; 35, fuel and energy; 27, real estate development and food and beverages; 21 each, transport; 20, auto and allied; 19, pharmaceutical; 18, power generation and education; 14 each, engineering and corporate agriculture farming; 13 each, communications; 12, broadcasting and telecasting; 11, textile; 10 and 85 companies were registered in other sectors. In addition, five foreign companies were also registered by the Company Registration Office (CRO) in Islamabad and Lahore.

Foreign promoters from a host of countries were reported in 33 new companies during June. These companies are from various sectors including automotive, communications and IT.

Thirty five per cent of the companies registered in June originated from Islamabad while 32pc and 23pc of the companies were registered at CROs in Lahore and Karachi respectively. Offices in Faisalabad, Multan, Peshawar and Quetta accounted for the remaining companies.

Source: http://www.dawn.com/news/1271079/6200-new-firms-enrolled

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