KARACHI: The Securities and Exchange Commission of Pakistan (SECP) has registered 293 companies during March, taking the total corporate portfolio as on March 31, 2010 to 55,200 companies.
Authorised capital and paid-up capital of the companies incorporated during the month amounted to Rs4,329.45 million and Rs451.82 million, respectively.
SECP Company Law Director Mohammad Siddique said that as the investors have reposed confidence in the overall economic situation and improvement in the law and order situation new companies are being incorporated in the commission.
He referred to 23 companies registered during March and said that they have foreign investment.
On the part of the commission, he said, the introduction of e-Services had made the process hassle-free, as now a company can get registered from anywhere.
The companies registered during March comprise two public unlisted companies, 279 private companies and 12 single member companies.
Around 54 companies were registered in the trading sector, followed by 24 in services, 20 in construction, 18 in corporate agricultural farming, 16 each in food and beverages and Haj and Umrah services, 14 in tourism, 13 in engineering, 12 in information technology, and 11 each in the communication and education sectors.
During the month, the commission had granted licences to two not-for-profit organisations under Section 42 of the Companies Ordinance, 1984, of which one is related to education sector and the other for promotion of sports.
The highest number of 111 companies was incorporated in Lahore, followed by Karachi and Islamabad, registering 74 and 72 companies, respectively. Peshawar, Multan, and Faisalabad registered 19, 12, and three companies respectively during March, while Quetta and Sukkur registered one company each.
Out of 293 companies registered during the period, 23 have foreign investment. These companies have investment from Australia, US, the UK, the UAE, China, Saudi Arabia, Panama, North Korea, South Korea, Turkey, Sweden, Congo, Oman, Bosnia and Malaysia.
Of these 23 companies, five are registered in the trading sector, three in food and beverages, two each in engineering, construction and miscellaneous sectors and one company each in Haj and Umrah services, telecommunication, education, healthcare, transport, corporate agricultural farming, power generation, tourism and broadcasting sectors.
Source The News
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