ISLAMABAD    -      The Securities and Exchange Commission of Pakistan (SECP) registered 1,659 new companies in the month of October, raising the number of total registered companies to 107,062.

The recent measures by the SECP to make the process of companies incorporation easy and hassle free, led to 19 percent increase in the registration of new companies in October 2019, said SECP in a press release on Wednesday.

During October 71% companies were registered as private limited companies, 26 percent were registered as single member companies and three percent were registered as public unlisted companies, not for profit associations, foreign companies and Limited Liability Partnership (LLP). Amongst new incorporations, 96% companies were registered online and 43% of the companies were registered in same day. During the month 98 foreign users completed registration from overseas.

Foreign investment has been reported in 42 new companies. These companies have foreign investors from, Australia, Canada, China, Denmark, Germany, Iran, Kenya, Lebanon, Malaysia, Norway, Oman, Qatar Singapore, the UAE, UK and the US.