SECP registered 344 companies in May

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has registered 344 companies during May, whereas 338 companies were incorporated in last month and 285 in corresponding month of last year.

A statement issued by the Commission here on Tuesday said that a growing trend in incorporation of new companies has been witnessed continually since November.

Of the 344 companies, private companies had the major share totaling to 305 companies. Other companies include 25 single-member companies, 5 public unlisted companies, 7 non-profit associations, 1 company limited by guarantee and on foreign company.

The Company Registration Office (CRO) in Lahore registered 106 companies followed by the CROs in Islamabad and Karachi registering 97 and 86 companies respectively.

The CROs in Multan, Peshawar, Faisalabad, Quetta and Sukkur registered 19,16, 11, 8 and 1 companies respectively.

The sector-wise breakdown shows that 60 companies were registered in trading, followed by 38 in services, 25 IT, 21 in construction, 19 in communications, 17 each in Hajj and Umrah services.

About 13 companies registered in corporate agricultural farming, 13 in transport, 12 in tourism, 11 in education, 10 in textile, 8 each in power generation and broadcasting and telecasting.

The authorized capital and paid-up capital of the companies is Rs. 2543.2 million and Rs. 729.61 million respectively. During the month, 65 companies increased their authorized capital with the aggregate authorized capital increment of Rs. 10.34 billion.

The 107 companies raised their paid-up capital with the total paid-up capital increment amounting to Rs 10.86 billion.

Copyright APP (Associated Press of Pakistan), 2011