The Securities and Exchange Commission of Pakistan (SECP) has registered 327 new limited liability companies during April 2013, raising the corporate portfolio to 62,203 companies.
The SECP in its continued efforts to promote corporatization in the country is holding seminars with all stakeholders, conducting awareness campaigns, and extending facilities. Out of the 327 new companies registered during April 2013, around 92% companies registered as private limited companies, 5% companies registered as single-member companies, while the remaining 3% registered as public limited companies.
A number of foreign investors showed interest in investing in Pakistan as confirmed by investment in 12 new companies involved in diverse business areas. The Sectors include, trading, telecommunications, power generation, lodging, tourism, fuel and energy, import/export, automobiles and IT sectors.
These companies have foreign investors from Canada, China, Panama, South Korea, the United States, the UAE and Ukraine. The interest of foreign investors is also a reflection of the SECP’s facilitative regime for foreign investors including, fast track provisional registration of companies having foreign directorship.
Overall, the services sector has taken the lead in new registrations with 50 new companies, followed by tourism with 45 companies, trading with 38, I.T. with 30, and the remainder in broadcast media, construction, communications, food and beverages, finance and banking.
Out of the 327 companies registered, 103 companies were registered at the Company Registration Office (CRO) in Lahore, while the CROs in Islamabad and Karachi registered 94, and 74 companies respectively. During April 2013, returns for increase in the authorized capital of 84 companies were accepted, resulting in total authorized capital increment of Rs. 32.11 billion. In addition, 96 companies filed returns for increase in their paid-up capital with the total increase amounting to Rs. 9.04 billion.