SECP registers 480 companies in September

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ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP), during September, have registered 480 new companies, an increase of 18% as compared to the same period of last year.

 

Four foreign companies were also registered by the Company Registration Offices (CROs) in Islamabad, Karachi and Lahore.

 

Around 94% companies were registered as private limited companies, while around 4% were registered as single member companies. 2% of the companies were registered as public unlisted, associations’ not-for-profit and foreign companies.

 

As many as 57 companies were registered in information technology (IT) and services sector each, followed by trading with 51, construction with 38, tourism with 32, communication with 23, corporate agricultural farming with 18, food and beverages with 16, fuel and energy with 15, education with 14, broadcasting and telecasting, pharmaceutical, engineering and health care with 12 each, power generation with 11, textile with 10, real estate development with 8 while 82 companies were registered in other sectors.

 

A total of 25 new companies received foreign investments from countries including Belgium, China, Germany, Hong Kong, Nigeria, Russia, Sweden, Turkey, UAE, UK and Ukraine. These companies were from various sectors including auto and allied, chemical, construction, cables and electrical goods, engineering, food and beverages, fuel and energy, power generation, trading, information technology, mining and quarrying, power generation, and transport.

 

During the month, the highest numbers of companies, i.e. 157, were registered at the CRO Lahore, followed by 141 and 101 companies with CRO Islamabad and Karachi respectively. The CROs Peshawar, Multan, Faisalabad and Quetta registered 29, 27, 18 and 7 companies respectively.

 

SECP to impart investor education among Air University students: The Securities and Exchange Commission of Pakistan (SECP) and Air University signed a memorandum of understanding (MoU) to establish cooperation for conducting investor education seminars for the enrolled students at the Air University campus in Islamabad.

 

This is a part of SECP’s investor education programme, launched under the brand
name “Jamapunji”.

 

The MoU was signed by SECP Investor Education and International Relations Commissioner Akif Saeed and Air University Registrar Air Commodore (r) Tariq Ashraf. Air University Vice Chancellor Air Vice Marshal (r) Faaiz Amir, deans of various faculties and senior SECP officials were also
in attendance.

 

Under the MoU, the SECP would be holding regular seminars at Air University on a continuing basis to impart knowledge to existing and incoming students about the basics of savings, financial planning, investing and capital markets. Students would also learn about the Jamapunji web portal that has been specially developed for imparting investor education in Pakistan. At par with investor education web portals of the advanced economies, the web portal offers comprehensive information about Pakistan’s investment products, capital markets, insurance and the non-banking financial sectors to anyone who is interested in investing in Pakistan.

 

The MOU signing ceremony was preceded by an interactive discussion regarding the role of SECP in imparting investor education and the benefits of this for the students and faculty of the Air University. The need for bilateral cooperation was highlighted especially in the area of research projects engaging the student body in analysis of financial markets.

 

The commissioner welcomed the possibility of enabling such projects to enhance the skill set of students poised to contribute more effectively to their personal learning and development. He also recognised the multifold benefits of such projects that would contribute to refining the financial canvas of the economy through the educated youth of Pakistan.

 

Commemorative plaques were exchanged at the end of the MOU signing ceremony. It is hoped that by educating the university students through SECP’s Jamapunji Investor Education Programme, a new generation of financially literate investors, who would be aware of their rights and responsibilities, could be developed. It is important that a well-informed investor brings discipline to the market place, which in turn leads to better compliance by providers of financial products and services.

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