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Pakistan’s VCs expected to stake up with foreign funds
July 13, 2021
KARACHI: Pakistan’s local venture capital industry is expected to expand while taking cue from growing investments from international funds in the country’s tech startups, an industry official said.
Owais Zaidi, founder and CEO of CrediFix – the country’s first digital lending company – said the local venture capital (VC) industry is very nascent and bulk of investments are coming from international funds.
“Eventually the local VC industry will grow as the local VCs learn from international funds investing and leading the way,” Zaidi said in an interview.
Pakistani ecosystem was late to take off due to the delay in 3G/4G launch. Once the 3G/4G came, new business models like mobile commerce/payments, ridesharing, digital lending, became possible. Pakistan is the 5th most populous country in the world with over 220 million people, he said.
Pakistan football team players pratice during a training session. AFP/File
KARACHI: Ashfaq Hussain Shah says he’s keeping his word. Sardar Naveed Haider Khan says the plan to give rights to a company to hold the Pakistan Football League is a ‘15-year sellout’.
The court-elected Pakistan Football Federation president Ashfaq and his vice-president Naveed, who are not recognised by FIFA and whose takeover of the PFF headquarters in March saw Pakistan suspended by the global football body, seem to be at loggerheads regarding the latest plan for a franchise football league in the country.
“I cannot be part of such a sellout,” Naveed told
SECP registers 2,504 new companies in June 2021
July 10, 2021
ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) on Friday said it had registered 2,504 new companies in June 2021, showing a growth of 63 percent as compared to the corresponding period last year.
The total number of registered companies increased to 145,913.
Ninety-nine percent of these were incorporated online and 45 percent applicants were issued registration certificates the same day, whereas 203 new foreign users were registered from overseas.
Of the newly registered companies, 65 percent were registered as private limited companies, 31 percent as single member companies and four percent as public unlisted companies, not for profit associations, foreign companies and limited liability partnership (LLP). Total capitalisation (paid-up-capital) of newly incorporated companies for the current month amounted to Rs3.3 billion.
ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) registered 2,504 new companies in June, indicating a growth of 63 per cent as compared to corresponding period last year.
The total number of registered companies increased to 145,913, a press release issued by SECP on Friday said.
Of the total companies, 99pc were incorporated online while 45pc applicants were issued registration certificates the same day. 203 new foreign users were registered from overseas. Of the newly registered companies, 65pc were registered as private limited companies, 31pc as single-member companies and 4pc as public unlisted companies, not for profit associations, foreign companies and limited liability partnership (LLP).