SECP registers 117 construction companies in April | Graana.com Blog



Post Views:
6

ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) registered 117 construction companies in April along with 194 IT companies, 180 trading companies, 115 import and export companies and 110 consultancy companies. The companies’ total registration increased by 186 percent. 

According to SECP, total registrations were increased to 141,805, with 2,185 new companies registered in April alone. Of these, there were 220 foreigner users who registered from overseas, 99 percent registered online and 29 percent completed the  incorporation process the same day. 

The April incorporation included 29 percent single member companies, 67 percent private limited companies, and 4 percent were trade organisations, foreign companies, public unlisted companies not for profit associations, and limited liability partnerships. 

Foreign direct investment has been seen in 47 new companies. These companies have foreign investors from China, Netherlands, Hong Kong, USA, UAE, Greece, Saudi Arabia, Syria, UK, Turkey, Norway, Canada, Germany and Australia.

According to a statement issued by SECP, the growth in registration cases is a result of digitisation and simplification of processes that include speedy systems for name reservation and incorporation, minimal fees and facilitation from newly established business centres.

 

For more news, visit Graana.com 




Comprehensive plan in place to promote FinTech environment in Pakistan: Chairman SECP


Post Views: 0

ISLAMABAD: The Security and Exchange Commission of Pakistan (SECP) Chairman, Aamir Khan on Tuesday said that the institution has developed a comprehensive and coherent policy for the promotion of the FinTech environment. 

Speaking at the webinar on “Second Cohort of SECP’s Regulatory Sandbox”,  Aamir Khan said that the regulatory authority would provide a controlled environment to conduct experimental tests in order to develop products, controls and regulatory oversight.  The webinar was organised by SECP. 

As per Aamir Khan,  FinTech has immense potential for growth and expansion in the financial sector. However, the new developments would also pose challenges for regulators and supervisors. 

He further highlighted the mechanism of the SECP’s Regulatory Sandbox and gave details regarding the application procedure, eligibility criteria and the evaluation process. 

 

For more news, visit Graana.com