SECP registers 217 cos in August

LAHORE - The Securities and Exchange Commission of Pakistan registered 217 companies in August, increasing the total corporate portfolio to 56,568 companies.
The new incorporations includes 196 private companies, 4 public unlisted companies, 11 single-member companies, 4 non-profit associations under Section 42 of the Cos Ordinance, 1984, 1 company limited by guarantee and 1 foreign company. The services sector has the highest number of incorporations, i.e., 32, followed by trading sector with 28.
Other sectors with considerable new incorporation are construction, I.T., communications and hajj and umrah services with 18, 16, 11 and 10 companies respectively.
The highest number of new incorporations, i.e., 83 companies took place at the Company Registration Office (CRO), Lahore followed by CRO Islamabad and Karachi registering 64 and 53 companies respectively. The CROs of Multan, Faisalabad, Peshawar, Sukkur and Quetta registered 7, 4, 3, 2 and 1 respectively.
The authorized capital and paid-up capital of 217 companies, is Rs3451.6 million and Rs394 million respectively.
In August 52 companies raised their authorized capital with the aggregate authorized capital increment of Rs6.348 billion and 69 companies increased their paid-up capital with the total paid-up capital increment amounting to Rs4.31 billion.