ISLAMABAD: A record corporate growth has been witnessed in Balochistan and the number of companies registered with the SECP’s Company Registration Office in Quetta has crossed the 1,000 mark. During the financial year 2010-11, a total of 57 companies were registered in Quetta, in comparison to 22 companies registered during the previous financial year, showing an increase of 159%.
It is a milestone in the corporate growth history of Balochistan, reflecting the progressive development of a corporate culture in the region. Such unprecedented corporate growth in Balochistan has been achieved as a result of the substantial reforms and facilitative measures undertaken by the SECP over the years to promote corporatisation in the country.
The SECP envisions that the unbound potential of corporatisation in Balochistan can be utilised for development, and it is committed to continuing its efforts to provide impetus to corporatisation and economic development in the province.
The portfolio of registered companies in Balochistan now comprises of 14 public listed, 22 public unlisted, 938 private, 15 single member companies, 7 non-profit associations under section 42 of the Companies Ordinance, 1984, 4 trade organisations, and 1 foreign company.
Total authorised capital and paid-up capital of these companies is Rs 26 billion and Rs 16 billion, respectively. The sector-wise breakdown shows that 376 companies are registered in Hajj and Umrah services, followed by 105 companies in trading, 94 in tourism, 53 in mining, 46 in food and beverages, 40 in services, 30 in construction, and 25 in the communication sector.