More than 12,000 applications submitted through the Business Portal remain incomplete, prompting a 14-day deadline for applicants to finalise their submissions, the Ministry of Economic Development, Transport and Trade announced.
Many of these filings lack completed procedural stages and have pending fee payments, officials noted. Yoosuf Naeem, the strategy and registry service consultant at the ministry, underscored during an appearance on the PSM News programme 'Raajje Miadhu' that 12,500 incomplete applications are currently pending.
"According to the records presently held within the system, there are approximately 12,500 applications," Yoosuf explained. This directive, published in the Government Gazette on 2 July, stipulates that the timeframe expires at 2:00 p.m. on 16 July. Yoosuf maintained that the ministry is providing this window for all applicants to conclude their remaining procedural stages, adding that following the extension, successful applications will be finalised while incomplete filings will be cancelled from the portal.
Applicants who lose their reserved business names due to cancellation may face difficulties securing the identical name upon reapplying, Yoosuf cautioned. He highlighted that processing and finalising applications within this 14-day window is critical for parties who have reserved names to prevent such administrative cancellations.
Technological advancements within the portal will streamline future reviews, ensuring that if an applicant must rectify any step, they will be notified comprehensively. Following the issuance of this notification, the system will automatically cancel the application after a three-day grace period. This automated protocol will alleviate the backlog and elevate the standard of service provided to the public, the ministry asserted.