ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has registered 5,001 new companies in 2014-15, witnessing a growth of 9% as compare to FY14, reported by Media and Corporate Communication Department of SECP.
After the corporatistaion of 5,001 new companies in FY15, the total number of registered companies in the country has raised to 67,623. In the new incorporations, around 90% companies have been registered as private limited companies, around 6% companies were registered as single member companies, and 4% were registered as public unlisted, non-profit associations, trade organisations, and foreign companies.
Service sector is leading in the new incorporation with total of 635 incorporations during FY15, followed by trading with 578, information technology with 480, tourism with 401, construction with 333, corporate agriculture farming with 198, education with 167, fuel and energy with 149, food and beverages with 144, communications and power generation with 142, textiles with 121, pharmaceuticals with 116, real estate development with 115, broadcasting and telecasting with 107, and engineering with 106.
During FY15, 243 foreign companies were registered in the country mainly from the countries including: Afghanistan, Australia, Austria, Belarus, Belgium, Bulgaria, Cameron, Canada, China, Denmark, Egypt, France, Germany, Italy, Jamaica, Japan, Jordan, Lebanon, Libya, Macedonia, Mauritius, Morocco, the Netherlands, New Zealand, Nigeria, North Korea, Norway, Oman, Palestine, Panama, Saudi Arabia, Singapore, South Africa, Spain, Sri Lanka, Sudan, Sweden, Switzerland, Tanzania, Turkey, Turkmenistan, the United Arab Emirates, the UK and the United States.
Moreover, 42 foreign companies are still under evaluation process that are from Australia, Bahrain, China, France, Germany, Hong Kong, Japan, South Korea, the Netherlands, Singapore, Switzerland, Turkey, the UAE, the UK and the United States.
The companies are from import/export, food and beverages, construction, transport, education, information technology, engineering, pharmaceuticals, sugar, chemical, fuel and energy, cable, and electric goods.
Moreover the returns of an increase in the authorized capital during FV15 was also observed. The authorized capital filed by 1,392 companies was increased by Rs. 434 billion. The returns for increase in paid-up capital filed by 1,415 was increased by Rs. 132 billion.