SECP registers 244 companies in October

During the month of October 2011, the Securities and Exchange Commission of Pakistan (SECP) registered 257 new companies. Private companies (244) have the highest share in new incorporation followed by 11 single member companies, one not-for-profit association and a foreign company from the UK in the fuel and energy sector. Foreign investment by US 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 information technology (27), services (24), transport (21), Hajj and Umrah Services (16), food and beverages (14), construction (10) and power generation (10). Seven companies each were incorporated in the textile, pharmaceuticals and corporate agricultural farming sectors, 6 companies each in the education and chemical sectors, while 5 companies each in the tourism, fuel, energy and communications sectors.
Eighty-five companies were registered in Lahore followed by Karachi (82) and Islamabad (61). 12, 8, 7 and 2 companies were registered in Peshawar, Multan, Faisalabad and Quetta, respectively.
The authorised capital and paid-up capital of companies incorporated in October 2011 is Rs 1.58 billion and Rs 298.47 million, respectively. During the month, 23 companies increased their authorised capital with the aggregate authorised 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.-PR