600 business permits revoked in Herat this year

HERAT CITY (Pajhwok): Around 600 business permits have been revoked during ongoing solar year in western Herat province, an official said on Saturday.

Mir Arif Sadiq, acting head of the Commerce and Industry, told reporters here due to unfriendly investment conditions provided by the sectorial institutions and surge in the price of business passports around 600 business permits had been revoked in the province this year.

He said according to the new rules and regulations of the Ministry of Commerce and Industries individual who want to invest should have 500,000 afghanis in his bank account.

Sadiq said the process of the issuance of business permits had been simplified and every individual who passes the criteria could get the license. He said around 1,000 business permits had been distributed this year.

Governor Spokesperson Jilani Farhad said the revocation of business permits was not linked to weak economy, adding that some individuals retrieved while the work opportunity in some fields restricted due to which the permits had been revoked.

Experts, however, said that insecurity and foreign sanctions of Iran forces some small investors to revoke their business permits.

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