By Israr Khan
ISLAMABAD: Despite poor law and order situation in the country due to war on terror, the economy still has potential to attract foreign investors as during November 12 foreign companies registered themselves with the Securities and Exchange Commission of Pakistan (SECP). It sends a strong signal to foreign investors to invest in various untapped sectors of the country.
The 12 companies belong to different countries around the globe including Australia, USA, Russia, Germany, China, Italy, Turkey, Bangladesh, Iraq and Lebanon.
Foreign investment has been made in four companies in the trading sector, two companies each in transport, information technology and services sectors and one company each in food and beverages and agriculture farming.
Including these foreign companies, total registration of companies stood at 189 during November 2009.
Among these, two and a half dozen companies were in the services sector, followed by 23 in trading, 19 in information technology, 17 in construction and 14 in food and beverages.
With these 189 new registered companies, total corporate portfolio at the end of November rose to 54,166 registered companies.
The 189 companies incorporated during the month comprise one public unlisted company, 175 private companies, 11 single-member companies and two associations not for profit under section 42 of the Companies Ordinance 1984 (the ‘Ordinance’).
Total authorised capital and paid-up capital of companies, incorporated during November, amounted to Rs4,895 million and Rs189.74 million respectively.
During the month, the number of new incorporations was the highest in Lahore, where 73 companies were registered, followed by Islamabad registering 56 companies and Karachi 49 companies. Peshawar, Faisalabad, Multan and Quetta registered 5, 3, 2 and 1 company respectively.
During the month, the commission granted licence to one association not for profit under Section 42 of the Companies Ordinance, having social services objectives.
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