A mass deregistration of companies is eminent by the Patents and Companies Registration Agency (PACRA).
The deregistration if implemented will affect over 700 companies.
PACRA Registrar and Chief Executive Officer Anthony Bwembya says a team is currently extracting data of companies that did not comply with the amnesty that was given to settle the annual returns.
Mr. Bwembya says once the compilation is done, the agency will advertise the names of the companies and give them time to respond before officially deregistering them.
Speaking to QFM NEWS, Mr. Bwembya says this will also help clean the agency’s data base.
He further notes that the agency will not sympathize further with any company for not following the laid down required procedures.