Daily Archives: June 7, 2018

17% growth in companies registration at Securities and Exchange Commission of Pakistan

Islamabad, June 07, 2018 (PPI-OT): In May, the Securities and Exchange Commission of Pakistan (SECP) registered 1,094 new companies. As compared to the corresponding month of last financial year, it represents a growth of 17 percent, raising the total number of registered companies to 86,876.

The massive increase is the result of the SECP’s various reforms measures, i.e. introduction of simplified combined process for name reservation and incorporation, reduction of fee, assistance of incorporation by facilitation wings of CROs etc. Around 76 percent companies were registered as private limited companies, while around 22 percent were registered as single member companies. Two percent were registered as public unlisted, non-profit associations and foreign companies.

The trading sector took the lead with the incorporation of 178 companies, services with 153, Information Technology with 135, construction with 132, tourism with 42, food and beverages with 39, real estate development with 36, education with 33, engineering with 32, corporate agricultural farming with 26, transport with 21, textile, pharmaceutical and marketing and advertisement with 19 each, auto and allied with 18, broadcasting and telecasting with 16, chemical, fuel and energy and health care with 12 each, communication and power generation with 11 each and 118 companies were registered in other sectors. Moreover, 5 foreign companies were also registered by CRO Islamabad and Karachi.

Foreign investment has been reported in 56 new companies. These companies have foreign investors from, Canada, China, Czech Republic, Denmark, Iran, Jordan, Korea (South), Lebanon, Nepal, the Netherlands, Oman, Saudi Arabia, Singapore, Tanzania, Turkey, Ukraine and the US. The highest numbers of companies, i.e. 402 were registered in Islamabad, followed by 271 and 226 companies registered in Lahore and Karachi respectively. The CROs in Peshawar, Multan, Gilgit-Baltistan Faisalabad, Quetta, and Sukkur registered, 60, 42, 39, 31, 14 and 9 companies respectively.

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

Board of directors meeting of Safa Textiles Limited

Karachi, Safa Textiles Limited informed Pakistan Stock Exchange that board of directors meeting of the company will be held on June 12, 2018. The agenda of the meeting will to consider the Quarterly Accounts for the period ended March 30, 2017.

Further, the company has declared the closed period from June 06, 2018 to June 12, 2018.

Safa Textiles Limited is a company incorporated in Pakistan as a private limited liability company on November 08, 1984. It was subsequently converted into a public limited company on April 01, 1992. The foundations of the company are laid under the Companies Ordinance, 1984. The company is engaged in the manufacturing and export of readymade garments. The stocks of the company are quoted on the Karachi Stock Exchange of Pakistan. The registered office of the company is located at Karachi.

The symbol “SFAT” is being used by the stock exchange for the shares of Safa Textiles Limited.

Board Meeting of Murree Brewery Company Limited

Karachi, Murree Brewery Company Limitedinformed Pakistan Stock Exchange that the Board of Directors of the Company in their meeting held on June 07, 2018 at Rawalpindi, approved the budget for financial year 2018-19.

Muree Brewery Company Limited is a company incorporated in Pakistan. The foundations of the company are laid under the Companies Ordinance, 1984. The company was categorized as a public limited company in February, 1861. The stocks of the company are quoted on the Karachi, Lahore and Islamabad stock Exchanges of Pakistan. The registered office of the company is situated in Rawalpindi.

The company is principally engaged in the manufacturing of Pakistan Made foreign Liquor, Alcoholic Beer, Non-Alcoholic Beer, Non-Alchoholic products which include juices in tetra packs in Rawalpindi and food, products, juices, mineral water, glass bottles and Jars in Hattar. The product distribution of the company comprises of three divisions namely Liquor Division, Tops Division and Glass Division to carry out principle activities of the business.

The symbol “MUREB” is being used by the stock exchanges for the shares of Murree Brewery Company Limited.

Funeral prayer of martyr Mohammad Ilyas offered in Karachi

Funeral prayer of Rangers personnel Mohammad Ilyas, who embraced martyrdom in an encounter in Korangi area of Karachi last night, was offered at the Sector Headquarters of Bhittai Rangers in the city today.

Funeral prayer was attended by Corps Commander Karachi Lieutenant General Shahid Baig Mirza, Direcotr General Sindh Rangers Major General Mohammad Saeed, Secretary Home, IG Sind A.D. Khwaja and a large number of rangers personnel.

Later, the dead body of martyred personnel was sent to his ancestral home Khoshab where he will be buried.

Source: Radio Pakistan

GB Cabinet approves over Rs 63b budget proposals

The meeting of Gilgit-Baltistan cabinet held in Gilgit on Thursday with Chief Minister Hafiz Hafeez-ur-Rehman in the chair approved over 63 billion rupees budget proposals.

Speaking on the occasion, Chief Minister Gilgit-Baltistan said the new budget focuses on improvement of health and education sectors.

Gilgit-Baltistan Budget for the fiscal year 2018-19 is being tabled in Gilgit-Baltistan Legislative Assembly (GBLA) on Thursday afternoon.

Source: Radio Pakistan