SECP registers 257 companies in October

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) registered 257 new companies in the month of October 2011.

According to the statement issued by SECP here on Saturday, out of 257 new companies, private companies have the highest share with 244 companies in new incorporation followed by 11 single member companies, one not-for-profit (NGO) association and a foreign company from the United Kingdom (UK) in the fuel and energy sector.

Foreign investment by United States of America (USA) nationals was made in a new local company in the power generation sector.

The sector-wise position reveals that 36 new companies were incorporated in the trading sector, followed by 27 information technology, 24 services, 21 transport, 16 Hajj and Umrah Services, 14 food and beverages, 10 construction and 10 power generation.

Seven companies each were incorporated in the textile, pharmaceutical and corporate agricultural farming sectors, 6 companies each in the education and chemical sectors, while 5 companies each in the tourism, fuel and energy and communications sectors.

Eighty-five companies were registered in Lahore followed by 82 Karachi and 61 Islamabad. 12, 8, 7 and 2 companies were registered in Peshawar, Multan, Faisalabad and Quetta, respectively.

The authorized capital and paid up capital of companies incorporated in October is Rs.1.58 billion and Rs.298.47 million, respectively.

During the month, 23 companies increased their authorized capital with the aggregate authorized capital increment of Rs.10.98 billion and 57 companies raised their paid up capital with the total paid up capital increment amounting to Rs.6.9 billion.

Copyright APP (Associated Press of Pakistan), 2011