Ministry of Commerce and Industry is planning to add a clause to cancel licenses that have not been in operation for six consecutive months, local reports indicated.
The sources indicated that this rule will be strictly enforced after considering that a large number of licenses that had not been in use or engaged in any work since their inception. As per report, this article is already there in the existing companies law, where the article already stipulates that if the activity is not carried out for a period of six consecutive months without notifying the Ministry, the license will be revoked.
The ministry had previously issued ministerial decisions revoking the commercial licenses of real estate, research, and medical services companies that had not been operating for six consecutive months.