SECP registered 323 companies in January

The Securities and Exchange Commission of Pakistan (SECP) registered 323 companies in January.

The highest share in new incorporations was of private companies totaling 290. Other companies include 20 single-member companies, 2 public unlisted companies, 6 non-profit associations, 4 foreign companies and one trade organization.

Of 323 companies, the highest incorporation of 53 companies each was witnessed in the services and trading sector, followed by 18 in Hajj and Umrah services, 17 in I.T., 16 in construction, 12 each in textile and communications, 11 in engineering, 10 in pharmaceuticals, 9 each in chemical, education, transport, and food and beverages, 8 each in power generation and fuel and energy, and 7 each in auto and allied, and corporate agricultural farming.

During January the Company Registration Office (CRO), Lahore, registered highest new incorporation of 108 companies followed by the CRO in Islamabad and Karachi registering 93 and 75 companies, respectively. The CROs of Peshawar, Multan and Faisalabad registered 17, 14 and 12 companies each while CROs in Quetta and Sukkur registered 3 and 1 company respectively.

The authorized capital and paid-up capital of 323 companies, is Rs1,774 million and Rs 712.08 million respectively. During the month, 51 companies increased their authorized capital with the aggregate authorized capital increment of Rs8.46 billion and 74 companies raised their paid-up capital with the total paid-up capital increment amounting to Rs13.6 billion.

SECP holds seminar on corporatization and e-Services

The Securities and Exchange Commission of Pakistan (SECP) held a seminar on corporatization and e-Services project of the SECP in Karachi in collaboration with Management Association of Pakistan.

This seminar was organized as part of the SECP initiative to encourage corporatization and create awareness about the eServices project. After e-Services launch in September 2008, such seminars have already been held in various cities of the country including Karachi, Lahore, Islamabad, Faisalabad, Multan, Rawalpindi and Sialkot.

This seminar was attended by participants from various companies as well as corporate consultants.

Mr Ibtesam Moatisim Khan, Director, Management Information System, delivered a presentation on the “e-Services Project of SECP” and also provided solutions to the difficulties faced by the users of eServices. The significance of eServices as an easy and cost-effective mode of filing of documents with SECP and new developments in e-Services were shared.

Mr. Sidney Custodio Pereira, in charge, CRO Karachi, apprised the participants of “corporatization and the role of SECP”.

The participants greatly appreciated the questions and answers session. They complimented the SECP on successful implementation of e-Services.

Famous cricket commentator, Mr Chishty Mujahid, now the Executive Director, MAP, expressed his gratitude to the SECP saying that MAP would continue to arrange such informative and interactive sessions with the SECP.