839 companies registered during April-June

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ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has registered 839 companies during the last quarter (April-June) of financial year 2008-09, said the commission in a news statement issued, here on Tuesday. A total of 3,181 companies have been registered during the financial year, July 1 to June 30, 2009, while the total portfolio as on June 30, 2009 reached 53,418 registered entities. The break-up of 3,181 companies registered during FY-09 reveals that 2,915 private companies have been registered during the year, 128 single member companies, 47 public companies, 31 associations not-for-profit licensed under section 42 of the Companies Ordinance 1984, 53 foreign companies, 3 trade organizations and 4 companies under section 43. The total 839 companies registered during the quarter comprise 11 public unlisted companies, 775 private companies, 26 single member companies, 16 foreign companies, 8 associations not-for-profit under section 42 of the Ordinance, 2 companies under section 43 of the Ordinance and 1 trade organization. Total authorized capital and paid-up capital of the companies registered during the quarter amounted to Rs9.01 billion and Rs1.62 billion respectively. During the quarter the highest number of 293 companies was registered at the Company Registration Office (CRO) Lahore, followed by CRO Karachi with 231 companies, CRO Islamabad 226 companies and CRO Peshawar with 46 companies. CRO Multan, Faisalabad and Quetta registered 16, 15 and 12, respectively. Major share of incorporation of companies during the quarter was witnessed in the services sector comprising of 136 companies, followed by 106 in trading sector, 100 in tourism sector, 70 in construction sector, 43 in communication sector, 47 in Information Technology, 30 in food and beverages, 25 in engineering, 17 in textile and 5 in finance and banking sector.
Moreover, 20 companies having foreign investment were registered during the month of June, 2009.
Foreign investors from USA have participation in 6 companies followed by UK and Germany in 3 companies each, China and Nigeria in 2 companies, each.
Other foreign investors belong to Afghanistan, Australia, Malaysia, Belarus, Denmark, South Korea, Hong Kong having participation in one company each. Of these 20 companies, foreign investment has been made in 4 companies in the power generation sector. Others include 3 companies in software development, 2 each in import/export and telecommunications, and 1 each in engineering, food and beverages, fuel and energy, steel and allied and textile sector. This trend shows the wide range of sectors in which the foreign investment is taking place. The SECP encourages the corporatization of businesses to contribute towards the progressive development of the economy and healthy growth of corporate sector of the country.


Courtesy: The News

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