Ministry Revokes 64 Business Licenses

Nov 30 , 2019

The Ministry of Trade & Industry announced that it took administrative measures against 67 companies that allegedly violated the commercial law of the country. The measure was taken during the first quarter of this fiscal year. The measure includes revoking the business licenses of the companies. During the inspection conducted on 421 businesses, the Ministry found 127 companies violating the commercial law of the country. While the business licenses of the 67 companies were revoked, the remaining companies were served with warning letters, according to a statement from the Ministry. The Ministry alleges the companies were involved in retail business while holding import licenses, engaged with businesses that are out of the area they are licensed for, and failed to post price tags among other violations.


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