Following Reforms: SECP registers 1,130 new firms

ISLAMABAD: As a result of various reform measures, including introduction of a simplified combined process for name reservation and incorporation, reduction of fee, assistance for incorporation by facilitation wings of the Company Registration Offices (CROs), the Securities and Exchange Commission of Pakistan (SECP) registered 1,130 new companies during December 2018. It represents a growth of 43% as compared to the corresponding month of previous year, according to a statement issued on Wednesday. Nearly 74% companies were registered as private limited companies while around 24% were registered as single-member companies. About 2% were registered as public unlisted, non-profit associations, foreign companies and limited liability partnerships (LLP). Foreign investment has been reported in 57 new companies, including investors from Canada, China, Greece, Hungary, Japan, Kenya, the Netherlands, New Zealand, Norway, the Philippines, Saudi Arabia, South Africa, Sri Lanka, Sweden, Switzerland, Thailand, Tunisia, the UK, the US and Vietnam.

Published in The Express Tribune, January 3^rd, 2019.

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