SECP registers 470 companies in May

SECP

ISLAMABAD: The new corporations registered with Securities and Exchange Commission of Pakistan (SECP) has seen significant growth on every coming month as showing in May with 470 companies, 422 in March and 370 in April respectively.

The private companies have the highest share in new incorporations, 450, followed by 13 single-member companies, 2 public unlisted companies, 3 non-profit associations and 2 foreign companies. Two foreign companies, belonging to Oman and South Korea were registered in Karachi and Islamabad. Foreign investment by nationals from the US, China and Panama has been witnessed in three local companies each registered in Lahore, Islamabad and Karachi, in mining, trading and communication sectors respectively. The hajj and umra services sector has the highest new incorporations of 157 companies, followed by services with 45 companies, trading with 42 companies, tourism with 22 companies, communications with 20 companies, IT with 19 companies, textile with 15 companies, construction with 12 companies and pharmaceutical with 10 companies. The Lahore Company Registration Office (CRO) registered 149 companies, followed by the Islamabad and Karachi CROs registering 116 and 94 companies respectively. The remaining CROs of Peshawar, Quetta, Multan, Faisalabad and Sukkur registered 42, 41, 16, 10 and 2 companies respectively. staff report -Dailytimes