ISLAMABAD - The SECP registered 383 new limited liability companies in March, bringing the total corporate portfolio to 61,887 companies.

Compared with preceding month, 8pc growth in corporate registration has been witnessed. The growth witnessed is a result of persistent efforts put forth by the SECP in order to promote corporatization in the country, including holding of various seminars with all stakeholders, awareness campaigns and facilitation extended.

Chasing the previous trend, around 93% companies registered as private limited companies, while around 6% companies registered as single-member companies during the month.

Due to the SECP’s facilitatation regime for foreign investors including, fast-track provisional registration of companies having foreign directorship, considerable foreign investment has been witnessed by nationals from Germany, Panama, China, the UK, the Netherlands, North Korea, Russia, Syria, Turkey, Italy and Japan, in 12 new local companies. These companies are from communications, engineering, mining and quarrying, trading, construction, services and automobile parts sectors.

The tourism sector has taken the lead in new registrations with the incorporation of 54 new companies, this month, followed by trading with 52 companies, services with 44, I.T. with 28, corporate agricultural farming with 20, broadcasting and telecasting with 17, communications with 16, construction with 13, food and beverages, and transport with 11 companies each.

Historically, most companies get registered in Lahore or Karachi, however, this month 115, were registered at the Company Registration Office (CRO) in Islamabad. It is followed by the CROs in Lahore and Karachi, registering 105 and 101 companies respectively. The Peshawar and Multan CROs registered 23 companies each, while the CRO in Faisalabad and Quetta registered 10 and 5 companies respectively. The Sukkur CRO registered 1 company.

During the month returns for increase in the authorized capital of 101 companies were accepted, with the total authorized capital increment of Rs24.55 billion.

In addition, 98 companies filed returns for an increase in the paid-up capital with the total enhancement amounting to Rs10.25 billion.