Written by Admin on August 3, 2013. Posted in Business, News, Top Stories
The Ministry of Livestock and Fisheries said it would take legal
actions against 10 local firms and entrepreneurs who have yet to
repay their debts owed to the ministry in the previous fiscal year in
its press statement released Friday.
The ministry claimed that the contractors had to repay more than K 28
billion debts to the ministry up to March 31.
It has six meetings with 75 entrepreneurs warning them to repay debts
as per conditions in contracts with managing directors and factory
managers.
The ministry also said it has sent notices to these debtors once a month.
It sought recommendations from the Union Attorney-General Office to
send legal notices to 65 entrepreneurs via the state-run newspaper.
In the Friday press release, it said it would send legal notices to 10
remaining entrepreneurs, urging them to repay debts by the end of this
month.
Those who failed to meet the deadline would be prosecuted for
breaching the contracts, it warned.
Source: http://www.news.myanmaronlinecentre.com/2013/08/04/fishery-ministry-to-prosecute-overdue-debtors/
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