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Staff Correspondent
ISLAMABAD: An increasing trend in new incorporation was witnessed in February 2010 as the Securities and Exchange Commission of Pakistan (SECP) registered 270 companies.
The trend has been on the increase since November 2009 when the SECP enrolled 189 companies followed by 237 and 254 companies registered in December and January respectively.
The total corporate portfolio as on Feb 28, 2010 comprises 54,927 companies.
Total 270 companies incorporated during Feb 2010, comprise of 3 public unlisted companies, 259 private companies and 8 single member companies, the SECP said Tuesday.
Authorised capital and paid up capital of companies incorporated during Feb 2010 amounted to Rs1,761.81 million and Rs426.58 million.
During Feb 2010, highest number of companies was incorporated at Karachi and Lahore, whereby 93 companies each have been registered, followed by Islamabad registering 63 companies. Faisalabad, Peshawar, Multan, and Quetta registered 10, 6, 4, and 1 company respectively.
Sector-wise classification of total 270 companies reveals that major share of new incorporation was witnessed in the trading sector whereby 48 companies were registered, followed by 43 in services, 22 in tourism, 19 in information technology, 16 in construction, and 13 in food and beverages sector.
During Feb 2010, the SECP granted licences to 2 associations not for profit under Section 42 of the Companies Ordinance 1984, of which one is related to healthcare and other for promotion of education.
Of the 270 companies registered during Feb 2010, 13 companies have foreign investment. Foreign investors in these companies belong to USA, UK, UAE, China, Italy, Saudi Arabia, Iraq, and Afghanistan.
Of these 13 companies, 3 companies each are registered in trading and services sector, 2 companies in construction, one company each in information technology, tourism, transport, communication, and sugar and allied sector.
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