The Securities and Exchange Commission of Pakistan (SECP) registered 3,400 companies during the financial year 2010-11, as compared to 3,041 companies registered during last year, ie, an increase of 12 percent. According to press release, the total corporate portfolio, as on 30th June 2011 has reached 59,451 companies, which is close to touching 60,000 - an all time high.
This increasing trend in the registration of companies is due to the SECP's pro-registration facilitation mechanism and the government's investment friendly initiatives. "eServices" has also facilitated the company registration process and almost 50% of new registration is now through online services - showing the increasing adaptability by the general public towards eServices.
The companies registered during the year comprise 3,056 private companies, 213 single-member companies, 31 public unlisted companies, 39 foreign companies, 53 not-for-profit associations, 4 companies limited by guarantee and 4 trade organisations.
The highest number of company incorporation took place in the trading sector comprising of 508 companies, followed by 495 in services, 217 in tourism, 209 in Information Technology, 204 in construction, 148 in communication, 122 in textile, 113 in transport, 96 each in education, and food and beverages, 92 in corporate agricultural farming and 86 in engineering sector.
The total authorised capital and paid up capital of the companies registered during the financial year 2010-11, amounted to Rs 44.38 billion and Rs 19.80 billion, respectively. During the financial year, 757 companies increased their authorised capital with the aggregate authorised capital increment being in the amount of Rs 288.93 billion while 1,045 companies raised their paid-up capital with the total paid-up capital increment being in the amount of Rs 178.68 billion.
The SECP has a vision to promote corporatisation of businesses so that these can better contribute towards progressive development of the economy. Corporate growth is considered a positive sign and reflects the expansion of the documented, formal and structured corporate sector, which translates into increased business opportunities and development of the economy.-PR
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