ISLAMABAD: During financial year 2011-12, the Securities and Exchange Commission of Pakistan (SECP) registered 3,923 companies, as compared to 3,400 companies registered during the previous financial year.
Out of the total, 3,571 were private companies; 237 single-member; 38 public unlisted; 31 foreign companies and 41 non-profit associations; four trade organisations; and one company limited by guarantee under Section 43 of the 1984 Companies Ordinance.
364 companies were registered in the month of June 2012. The number includes 325 private companies; followed by 23 single-member companies; five public unlisted companies; six non-profit associations; and five foreign companies.
As of June 30, 2012, the total number of companies registered in the country reached 62,343: an increase of 5% as compared to the total of 59,451 companies as of June 30, 2011.
The total authorised capital and paid-up capital of the companies registered during the preceding financial year amounted to Rs103.4 billion and Rs11.91 billion respectively. During the year, 1,990 companies increased their authorised capital with aggregate increment of Rs131.44 billion; and 1,198 companies raised their paid-up capital with total increment amounting to Rs217.38 billion.
The highest number of company incorporations took place in the trading sector with 501 companies; followed by 472 in services; 409 in hajj and umrah services; 260 in IT; 225 in construction; 170 in communication; 161 in food and beverages; 138 in tourism; 117 in textile and 100 in transport.
The SECP has said the growth in corporate enterprises is a positive sign and reflects expansion of the documented, formal and structured corporate sector, which results into more business opportunities and development of the economy.
Published in The Express Tribune, July 12th, 2012.
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