ISLAMABAD - The SECP registered 356 companies in January as compared to 271 companies during previous month, showing an increase of 31%. During the current financial year, a total of 1,942 companies have been registered compared to 1,700 during corresponding period of previous financial year, reflecting an increase of 14%.

An increase in incorporation of companies has been witnessed which is a sign of healthy growth and development of the corporate sector. The private companies have the highest share in new incorporation totalling to 323, followed by 21 single-member companies, 2 public unlisted companies, 5 non-profit association and foreign companies each.

Of the 5 foreign companies, each belonging to the U.S., Switzerland, Turkey, Hong Kong and Sri Lanka were registered in Lahore. Foreign investment by AJK nationals from was witnessed in two new local companies registered in Islamabad in trading and consultancy services each and by nationals from China and Turkey in two new local companies registered in Karachi ad Lahore respectively in leather and tanneries, and I.T. sectors each.

The sector-wise position shows that services sector had the highest new incorporation of 53 companies, followed by trading with 41 companies, hajj and umrah services with 29 companies, construction with 23 companies, I.T. with 16 companies, food and beverages with 15 companies, engineering with 14 companies, textile and communications with 13 companies each, corporate agricultural farming with 12 companies, tourism with 11 companies and pharmaceuticals with 10 companies.

The Company Registration Office (CRO) in Lahore registered 102 companies followed by CROs in Karachi and Islamabad registering 100 and 97 companies respectively. The remaining CROs in Peshawar, Faisalabad, Multan and Quetta registered 25, 18, 8 and 6 companies respectively.