Increase in registration of companies

Ramani KANGARAARACHCHI

There is a remarkable increase in the registration of companies from January to August this year making an income of Rs 93.6 million.

Registrar of companies D. K. Hettiarachchi told the Daily News Business that 3,685 companies have been registered during the eight months which is a significant increase compared to last year.

Out of this 3,486 are private companies and the balance is public companies. Another 21 companies are awaiting approval as at today.

Hettiarachchi said in January the number of companies registered was 357 out of which 340 were private companies. In July 595 companies have registered and 544 were private sector companies.

He said that this increase shows the confidence of new investors about the current situation in the country and the trend is to increase it further.

He said an average of 35 companies are registered at the Company Registrar’s office every day. Rs 8,500 is charged to register a private company.

The re-registration process of the companies under the new Act has been completed to a great extent.

The Registrar’s Office has received 26,201 applications out of which 21,347 were approved. The balance is either pending or, those companies that are not functioning at present.

According to statistics of the Company Registrar there are 36,710 companies other than the companies not re-registered upto now.