PACRA Registers 14, 000 Firms From January

THE Patents and Companies Registration Agency (PACRA) has from January to date, registered more than 14,000 businesses in various sectors of the economy.

PACRA public relations officer Vaida Bunda said more than 2000 businesses were registered in the construction sector and more than 1000 in the farming sector.

She said the agency had also seen a stable increase in registrations as more people register as suppliers of goods and services.

Ms Bunda attributed the increase in the number of companies being registered to the many economic opportunities prevailing in the country.

She, however, said the agency had also earmarked about 1000 companies for deregistration due to non compliance of filing of annual returns.

“The agency is still in the process of deregistration as the law clearly stipulates how this should be done for example, giving a notice of intention to deregister among others,” Ms Bunda said.

She further appealed to the registered businesses to always comply with the legal requirement of filing of annual returns and avoid the inconvenience of deregistration.

Source : The Times of Zambia

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