SECP registers 270 companies during February 2010

ISLAMABAD (SANA): An increasing trend in new incorporation has been witnessed since November 2009, i.e., 189, 237 and 254 companies were incorporated in November, December (2009) and January 2010 respectively.

Securities and Exchange Commission of Pakistan (SECP) registered 270 companies during the month of February 2010. The total corporate portfolio, as on February 28, 2010 comprises 54,927 companies.

Total 270 companies incorporated during February 2010, comprise three public unlisted companies, 259 private companies and eight single member companies.

Authorized capital and paid up capital of companies incorporated during February 2010 amounted to Rs. 1,761.81 million and Rs. 426.58 million.

During this period, 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 February 2010, the SECP granted licenses to two 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 registered companies, 13 companies have foreign investment; belong to U.S.A, U.K., U.A.E, China Italy, Saudi Arabia, Iraq and Afghanistan. Of these 13 companies, three companies each are registered in trading and services sector, two companies in construction, one company each in information technology, tourism, transport, communication, and sugar and allied sector.

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