ISLAMABAD - The Securities and Exchange Commission of Pakistan (SECP) registered 405 new companies in September. Compared with corresponding month last year, a 22pc growth has been witnessed.

Around 91pc companies were registered as private limited companies, while around 6pc were registered as single member companies. Three percent of the companies were registered as public limited companies, associations under Section 42 of the 1984 Companies Ordinance and foreign companies. The services sector took the lead in new registrations with the incorporation of 65 companies, followed by trading with 51, information and technology with 45, tourism with 33, construction with 26, power generation with 12, corporate agricultural farming with 11, pharmaceutical, education and food and beverages with 10 companies each. Foreign investment has been witnessed in 12 new companies.

These companies have foreign investors from Australia, Canada, China, Denmark, Germany, the Netherlands, Singapore, Sweden, Turkey, the UK and the US. These companies are from trading, information technology, power generation, auto and allied, chemical, fuel and energy, and mining and quarrying sectors. During the month, 132 companies were registered at the Company Registration Office (CRO) in Lahore, followed by 113 and 109 companies registered at Karachi and Lahore CROs respectively. The CROs in Peshawar, Multan, Faisalabad and Sukkur registered 23, 13, 10 and 3 companies respectively, while the CRO in Quetta registered 2 companies.

Returns for an increase in the authorized capital of 71 companies were accepted, with the total authorized capital increment of Rs143.36 billion. In addition, 92 companies filed returns for increase in the paid-up capital with the total increment amounting to Rs6.82 billion.