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Cancellation Of Licenses
Ministry of Commerce and Industry is set to study the cancellation of 3,000 companies that have not rectified their legal status, as most of these companies have expired licenses, reports Al-Shahed daily quoting informed sources.
They revealed that the ministry will also cancel the licenses of 1,640 company branches. The sources indicated that the ministry had given companies a grace period of up to Jan 16 to rectify their status or renew their expired licenses in order to avoid the cancellation of their licenses.
They said there are voices calling for an immediate cancellation of licenses without giving any grace period to the companies, considering the fact that some of those companies do not practice the activity for which they received the licenses and majority of them are trying to extend beyond the specified period and then proceed to calumniate the ministry.
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SOURCE : ARABTIMES
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