Tag Archives: SECP

UK’s body of chartered certified accountants to support Securities and Exchange Commission of Pakistan’s awareness campaign

Islamabad, February 02, 2017 (PPI-OT):The UK-based Association of Chartered Certified Accountants (ACCA) will support the SECP’s ongoing financial literacy and investor awareness campaign. An MOU between the two organizations has been signed. Mr. Akif Saeed, ……

Securities and Exchange Commission of Pakistan raises value of claims of insurance policy holders to be arbitrated by small dispute resolution committees

Islamabad, February 01, 2017 (PPI-OT):The Securities and Exchange Commission of Pakistan (SECP) has notified amendments to Rule 6 of the Small Dispute Resolution Committees (Constitution and Procedure) Rules, 2015, in exercise of the powers conferred ……

Regularization scheme for Gilgit-registered companies

Islamabad, January 31, 2017 (PPI-OT):The Securities and Exchange Commission of Pakistan (SECP) has launched Companies Regularization Scheme (CRS) for the companies registered in Gilgit Baltistan to file their overdue returns on payment of normal fee ……

Amendments in the Companies Bill 2016, approved by the Sub – committee of the National Assembly

Islamabad, January 24, 2017 (PPI-OT):The SECP chairman, Mr. Zafar Hijazi, addressed a press conference on Tuesday at SECP head office. He talked about the deliberations on the Companies Bill, 2016, in the subcommittee of the ……

Securities and Exchange Commission of Pakistan’s guidelines for capital market investors

Islamabad, January 24, 2017 (PPI-OT):During his press conference the SECP chairman, Mr. Zafar Hijazi, urged the investors not to lose their hard – earned money to unscrupulous elements. They should always deal with licensed brokers ……

Securities and Exchange Commission of Pakistan registered 703 companies in December 2016

Islamabad, January 05, 2017 (PPI-OT):The number of companies registered with the SECP during December 2016 has exhibited a remarkable growth of 30% over the corresponding month of the last year. This shows that corporate growth momentum continues. The number of companies incorporated in the last six months of 2016 witnessed an impressive growth of 23% as compared to corresponding period, primarily due to wide-ranging reform measures undertaken by the SECP.

A multi-pronged strategy has been adopted to further encourage corporatization in the country, comprising restructuring of Company Registration Offices (CROs), legislative reforms, increasing adoption of information and communication technologies, simplification of administrative procedures, and investor awareness and facilitation measures. In order to facilitate the entrepreneurs’ incorporation facilitation desks have been established at CROs in Islamabad, Karachi and Lahore.

To ensure that company is registered the same day if the application is received in first half of the day. These measures are aimed at reducing business start-up time and costs as well as number of regulatory procedures so as to encourage investors adopt the corporate form of business organization. The measures would also assist the government in documentation of economy. Around 85 percent companies have been registered as private limited companies, while around 13 percent companies were registered as single member companies.

Two percent of companies were registered as public unlisted, non-profit associations and foreign companies. The services sector took the lead with the incorporation of 140 companies, followed by trading with 95, construction with 69, information technology with 56, tourism with 33, engineering with 24,food and beverages with 21, auto and allied with 19, fuel and energy with 18, corporate agricultural farming , education, and real estate development with 17 each, transport with 16, communications, healthcare and power generation with 14 each, textile and pharmaceutical with 10 each, 99 companies were registered in other sectors.

Moreover, 6 foreign companies were also registered by the CRO in Islamabad and Karachi. Foreign investment has been reported in 50 new companies. These companies have foreign investors from, Afghanistan, Australia, China, Egypt, Iran, Nigeria, Norway, Singapore, Switzerland, Ukraine, the UK and the US.

During the month, the highest numbers of companies, i.e. 240, were registered at the Islamabad CRO, followed by 207 and 160 companies registered at Lahore and Karachi CROs respectively. The CROs in Peshawar, Multan, Faisalabad, Quetta and Sukkur and Gilgit registered 38, 39, 10, 7 and 1 and 1 company respectively.Tickers:1.SECP registered 703 companies in December.3.140 companies have been registered in services, followed by trading with 95, construction with 69, information technology with 56, tourism with 33, engineering with 24.4.Foreign investment has been witnessed in 50 new companies.

For more information, contact:
Head, Internal and External Communication
Securities and Exchange Commission of Pakistan (SECP)
NIC Building, 63 Jinnah Avenue, Islamabad
Tel: +92-51-9214005 or +92-51-9214009 (Ext. 378)
Fax: +92-51-9206459
Cell: +92-302-8552254
E-mail: shakil.chaudhary@secp.gov.pk
Website: www.secp.gov.pk