270 new companies registered by SECP in February

ISLAMABAD, Mar 09 : Securities and Exchange Commission of Pakistan (SECP) registered 270 companies during the month of February, 2010.

An increasing trend in new incorporation has been witnessed since November 2009, i.e., 189, 237 and 254 companies were incorporated in Nov., 2009, Dec., 2009 and Jan. 2010 respectively. The total corporate portfolio as on 28th Feb., 2010 comprises of 54,927 companies.

Total 270 companies incorporated during Feb., 2010, comprise of 3 public unlisted companies, 259 private companies and 8 single member companies.

Authorized capital and paid up capital of companies incorporated during Feb., 2010 amounted to Rs. 1,761.81 million and Rs. 426.58 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 U.S.A.., U.K. , U.A.E., 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.