ISLAMABAD - The SECP registered 621 new companies during November 2016, an increase of 23 percent as compared to the corresponding month of preceding year.

A growing trend has been witnessed in company incorporation, which is the direct result of numerous facilitation measures taken by the SECP in recent past. Around 85 percent companies have been registered as private limited companies, while around 11 percent companies were registered as single member companies. Four percent of the companies were registered as public unlisted, association's not-for-profit and foreign companies.

The services sector took the lead with the incorporation of 111 companies, followed by trading with 78, construction with 58, information technology with 50, tourism with 43, engineering with 24, education, fuel and energy and pharmaceutical with 17 each, corporate agricultural farming with 16, real estate development with 15, communication and food and beverages with 14 each, textile with 13, broadcasting and telecasting with 12, 122 companies were registered in other sectors. Moreover, three foreign companies were also registered by the CRO in Lahore and Karachi. Foreign investment has been reported in 37 new companies. These companies have foreign investors from Afghanistan, Canada, China, Germany, Lebanon, Russia, New Zealand, Sri Lanka, Sudan, Sweden, Singapore, Taiwan, Turkey, UAE and the UK. These companies are from auto and allied, cables and electric goods, communications, construction, corporate agricultural farming, engineering, fuel and energy, food and beverages, information technology, services, minerals, textiles, trading, transport and miscellaneous sector.

During the month, the highest numbers of companies, ie 203, were registered at the Company Registration Office (CRO), Lahore, followed by 202 and 120 companies registered at CRO Islamabad and Karachi respectively. The CROs in Peshawar, Multan, Faisalabad, Quetta and Sukkur and registered 32, 33, 23, 7 and 1 company respectively