SECP registered 332 firms in Dec

The Securities and Exchange Commission of Pakistan (SECP) registered 332 companies during December 2012 registered a growth of 22 percent over corresponding month of 2011. The authorized capital and paid-up capital of these companies amount up to Rs1.7 billion and Rs745 million respectively.

The new incorporations during the month include 302 private companies, 17 single-member companies, seven non-profit associations, four public unlisted companies and two foreign companies. Of the two foreign companies, one each belongs to Turkey and Germany.

Foreign investment by nationals from Cyprus, Panama, China, Belgium and Netherlands has been witnessed in five new local companies. These companies belong to software development, Construction and Services sectors.

The trading sector has the largest share in new incorporations with 44 companies, followed by services with 39 companies, tourism with 37, I.T. with 19, Food and Beverages with 15 companies, Broadcasting and Telecasting with 14 companies, Pharmaceutical, Textile and Construction with 13 companies each, Communications and Corporate agricultural farming sectors with 12 companies each.

The highest incorporation was witnessed at the Company Registration Office (CRO), Lahore where 108 companies were registered in December 2012. Followed by CROs Islamabad and Karachi where 98 and 81 companies were registered respectively. The CRO Multan registered 19 companies, CROs Peshawar, Faisalabad and Sukkur registered 11, 10 and three companies respectively, while the Quetta CRO registered two companies.

During the month, returns for increase in the authorized capital of 73 companies were accepted, with the total authorized capital increment of Rs7.24 billion. In addition, 59 companies filed returns for increase in paid-up capital with the total enhancement amounting to Rs5.99 billion.