SECP registers 410 companies in August

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) registered 410 companies during the month of August, showing a remarkable increase by 86 percent when compared to the 220 companies registered in the same month of the previous year, said an official statement.

Of the total companies registered during the month, 402 were limited by shares comprising of 11 public unlisted companies, 377 private companies and 14 single member companies. Apart from these, five foreign companies and three not-for-profit associations were also registered.

The total authorized capital and paid-up capital of the 402 limited by shares companies amounted to Rs 8,940.2 million and Rs 441.25 million, respectively. Furthermore, a total of 37 companies have raised their authorized capital during the month of August 2005 with an increment of Rs 626.8 million. A total of 93 companies were registered in the services sector, 55 in the trading sector, 25 each in communications and information technology and 24 in real estate development sector.

The new incorporations during August brought the SECP’s total portfolio of registered corporate sector to 46,609 companies. Out of these 2,755 are public companies, 42,417 private companies, 294 single member companies, 293 not for profit associations, 56 companies limited by guarantee, 176 trade organizations, 613 foreign companies and five companies are with unlimited liabilities. This is an increase by 9 percent when compared to the 42,675 companies registered up to 31 August 2004.

An unprecedented boom has been witnessed in the new incorporations with the SECP as 1,316 companies have so far been registered in only two months of the current financial year, which may be seen in comparison with the previous totals of 968, 1,068, 1,183 companies registered during the financial years from 1999 to 2002. staff report

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