A record breaking company registration figure has been seen by the Securities and Exchange Commission of Pakistan (SECP) during the month of November 2017, as total 881 new companies registered.
If we do a comparison to the parallel month of last financial year, it represents a growth of 40% which is a good sign.
Now at the moment, total 84,201 companies are registered with SECP as new incorporation contributed and raised the total number to this amount.
Behind this massive boost in number of new companies , there are many new reforms measures introduced by the SECP i.e. simplification of incorporation process, cut of the fee, support of incorporation by facilitation wings of CROs etc.
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So the direct result of various reforms by SECP resulted into high number of registration of new companies.
According to SECP, about 82% companies were registered against private limited companies category, while approximately 16 % companies were registered as single member companies. On the other hand, 2 %of the companies were registered as public unlisted, association not for profit, under section 43, trade organization and foreign companies.
As the entrepreneurs prefer to enter into service market instead of product market so we have observed that services segment took the lead with the incorporation of 134 companies, then comes trading with 118 companies, construction with 107, information technology with 91(although a good number for development of IT sector ), tourism with 52, engineering with 38, education with 29, food and beverages with 28, then real estate development and corporate agricultural farming with 22 each, textile with 20, healthcare with 18, pharmaceutical and transport with 16 each, auto & allied and cable and electric goods with 11 each and remaining 148 companies were registered in other sectors.
Furthermore, 5 foreign companies were also registered by the CROs in Karachi and Islamabad. In international sector, foreign investment has been accounted in 47 new companies.
These companies get foreign investors from Canada, China, Italy, Korea (south), Lebanon, Macedonia, Afghanistan, Australia, Mauritius, Mexico, Poland, Singapore, South Africa, Switzerland, the UK and the US.
The highest records of companies, i.e. 309 were registered at the Company Registration Office (CRO) Islamabad, followed by 253 and 165 companies incorporated at CRO Lahore and Karachi correspondingly during the month.
On the other hand, CROs in Peshawar, Multan, Faisalabad, Quetta, Gilgit, Baltistan and Sukkur registered 51, 44, 20, 11, 20 and 8 companies correspondingly.
