SECP registers 370 companies in March

The SECP registered 370 companies in March. This represents a 5 percent increase over 353 companies that were registered during the previous month. During the current financial year, July 2011-March 2012, as many as 2,666 companies have been registered as compared to 2,360 during corresponding period of previous FY, reflecting an increase of 13 percent.
This increase in incorporation of companies is a sign of healthy growth and development of the corporate sector. Private companies have the highest share in new incorporations totalling to 340 followed by 20 single-member companies, 5 public unlisted companies, 3 non-profit associations and 2 foreign companies.
Of the two foreign companies, one belonging to China was registered in Karachi while the other belonging to the US was registered in Lahore. Foreign investment by nationals from Canada, the UAE, Japan, the UK, China, Panama and AJK has been witnessed in 8 new local companies. Of these, 6 companies are registered at Islamabad and one each at Lahore and Karachi. Two companies are from the services sector while one each are registered in health, IT, mining, oil and gas exploration, glass and ceramics, and Hajj and Umrah services each.
The sector-wise break-up shows that with 46 companies the services sector has the highest share in new incorporations, followed by trading with 40 companies, IT, with 36 companies, Hajj and Umrah services with 33 companies, construction with 19 companies, food and beverages with 17 companies, communications with 15 companies, tourism with 13 companies, engineering with 12 companies, textile, pharmaceuticals, and broadcasting and telecasting with 11 companies each, transport, and fuel and energy with 9 companies each, corporate agricultural farming, healthcare, and auto and allied with 7 companies each, mining and quarrying with 6 companies and power generation, paper and board, and finance and banking with 5 companies each.
The Company Registration Offices (CROs) in Lahore, Karachi and Islamabad registered 115, 109 and 100 companies, respectively. The remaining CROs of Peshawar, Multan, Quetta and Faisalabad registered 21, 10, 8 and 7 companies, respectively. The authorised capital and paid-up capital of 370 companies, is Rs 4.02 billion and Rs 774.72 million, respectively. During the month, 189 companies increased their authorised capital with the aggregate authorised capital increment of Rs 8.12 billion and 131 companies raised their paid-up capital with the total paid-up capital increment amounting to Rs 5.87billion.-PR