5 Companies From Pakistan Make it to Forbes Asia’s 200 ‘billion list’

Forbes magazine is the leading magazine and recently has released  Asia’s best under a billion companies list 2017.

It is definitely a proud moment for Pakistan that in many Asian companies, five of the Pakistani companies managed to secure the rank and get their names included in the annual list.

The five names that were featured in the Forbes Asia list include  Agriauto Industries, Cherat Packaging, Ferozsons Laboratories, Ghandhara Industries, and Searle Company.

How Forbes compile its ‘Best Under a Billion’ list?

Forbes makes it decision by analyzing the profitability and growth rate If the revenue if the company increases and reaches $1 billion the company is than included to the list.

There were more than 18,000 candidates but 200 were published in the list. The winning 200 produced best earnings and growth result during the current fiscal year and three-years periods.

These are the Pakistani companies that were included to the list:

The Searle Company Ltd

Searle Company is engaged in making pharmaceutical and consumer products. The company has highest market value when comparing it to other companies included in the list. As of now the market value of the company stands at $696 million.

Ferozsons Laboratories

Ferozsons Laboratories, the pharmaceutical products making company has been included in the list for the second time. Ferozsons grew almost 93 percent last year and market value of the company is $102 million. The company was founded on January 28, 1954, and is headquartered in Lahore.

Agriauto Industries

Agriauto Industries manufactures and sell automotive components for motorcycles, and agricultural tractors etc. The current market value of the company is $105 million.

Cherat Packaging

Cherat Packaging makes and sells paper sacks and polypropylene bags for the cement industry of Pakistan and has a market value of $64 million.

Ghandhara Industries

Ghandhara Industries, founded on February 23, 1966, makes vehicles varying from pickup, trucks, and buses. The current market value of the company is $113 million.

Here will want to mention that Chinese companies ruled the list and India had only three companies in the list.

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A significant step is taken for promotion of businesses and corporations in Pakistan by Security and Exchange Commission of Pakistan. Register your company just in a day.

According to SECP, new companies can be registered in a single day at three of their main offices. These offices are in the major cities like Lahore, Islamabad and Karachi.

The press release issued by SECP says

“Incorporation and facilitation desks have been established at these Company Registration Offices, which will ensure facilitation to the investors so that companies are incorporated within a day.”

It also said,

“This swift mode of registration is likely to further promote corporation of the business sector.”

SECP is also working on some other things that are in total favor of the businesses that are already running.

A number of other things were also being worked on by SECP as well that can benefit new and existing businesses.

They include:

• measures which helped reduce the registration fee for small companies
• reduction in the filing fee for companies with a small capital base,
• waiving of the name availability fee,
• merging the name availability,
• incorpo­ration process to further reduce the time taken for registration.

Online payment and funding has been a major step that allowed people easy transactions and payments.  These reforms aim to improve the conditions of business in Pakistan. It aims to make Pakistan a recognized business hub. It will also ensure documentation of the economy.

They are trying to expand their growth by opening offices at different places. Like they have opened new registration office in Giligit-Baltistan, a Capital Market Hub in Abbottabad and facilitation center in Sialkot.

These efforts are surely going to take the whole business market of Pakistan to another level.

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621 new companies got registered in just a month for The Securities and Exchange Commission of Pakistan.

During November 2016 large number of companies applied and 621 got registered in SECP. According to stats there is an increase of 23% in the rate of registration.

The companies were registered as either private limited companies or a single person companies. Some companies were even registered as non-profiting SECP firms.

The services provided by these companies are:

• 111 incorporation companies
• 78 trading companies
• 58 constructions companies
• 50 information technology companies
• 43 tourism companies
• 24 engineering with 24,
• 17 each of education, fuel and energy and pharmaceutical companies
• 16 corporate agricultural farming companies
• 15 real estate development companies
• 14 each of communication and food and beverages companies
• 13 textile companies
• 12 broadcasting and telecasting companies
• 122 companies were registered in other sectors.

It is not only from Pakistan. Investors from different countries are taking part directly or indirectly. 3 foreign companies got themselves registered while the other countries preferred to invest in Pakistani companies. The investment came from Afghanistan, Canada, China, Germany, New Zealand, Srilanka, Sudan, Sweden, Singapore, Turkey, the UAE and the UK.

The registrations of SECP firms were made at different offices and registrations were made at:

• 203 at CRO, Lahore
• 202 at CRO, Islamabad
• 120 at CRO, Karachi
• 32 at CRO, Peshawar
• 33 at CRO, Multan
• 23 at CRO, Faisalabad
• 7 at CRO, Quetta
• 1 at CRO, Sukkur

All the companies have different aims but ultimately the greatest benefit is that they are helping to develop Pakistan and establish it as a successful country.

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With increasing usage of technology the companies have maintained their websites according to their own personal plans. A website of company is the virtual face of entities and is an effective tool for dissemination of required information to the public.

To some extent the companies are providing good data to customers but it is not that efficient.

The Security Exchange Commission of Pakistan (SECP), as a first step in this direction, issued a notification on July 10, 2014, requiring all public companies to maintain functional websites with effect from August 30, 2014, said a statement issued here by the commission.

The SECP has notified all Pakistani Companies (listed or non-listed) vide its SRO No 634(1)/2014 of July 10, 2014, to maintain functional websites having detailed information about the company, its objectives, governance structure, election of directors and financial position to benefit its members, potential investors, and the public.

The preferable format of compliance certificate has also been added to the guidelines. Powers to consider applications for relaxation and penalizing non-compliant companies have been delegated to the Commissioner (Company Law Division).

The SECP has been constantly asking Pakistani Companies to comply with these mandatory requirements, believing that this is a step towards aligning participants with global technological advances and the best international practices.

Definitely a good decision, it would make it easier for all the people to use. The more user friendly the website will be the more it will be attractive.

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