SECP registers 1,021 new companies

SECP registers 1,021 new companies
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ISLAMABAD:The Securities and Exchange Commission of Pakistan has registered 1,021 new companies during last month.

As compared to the corresponding month of last financial year, it shows a growth of 19 percent. This has raised the total number of registered companies to 84,809.

The massive increase in number of new companies is the direct result of various reforms introduced by the SECP. These reforms include simplification of incorporation procedure, reduction of fee  and  assistance of incorporation by facilitation wings of CROs.

Foreign investment has been recorded in 40 new companies. These companies have foreign investors from Argentina, China, Denmark, Germany, Jordan, Kenya, South Korea, Portugal, Russia, Singapore, Sweden and the US. APP/AFP

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