Economic Ministry terminates 32 private businesses

In this photo, Ms Mariyam Visam, Registrar of Companies is seen speaking with reporters. The Economic Ministry announced that over 1000 companies were terminated in October 2019 for unpaid annual fees. (Sun File Photo/Mohamed Muzayyin Nazim)

Economic Ministry has terminated 32 privately owned businesses, including shops and marts.

An announcement made by the Ministry last Tuesday stated that the businesses were terminated according to the law last month. Some of these businesses had been created in 2015.

The Ministry had previously announced that such a move may be forthcomin. The Ministry previously stated in October that over 1000 companies were terminated for not paying the required annual registration fees.

The list of companies terminated and announced in October included companies formed from 2012 to 2015.