Government pardons fines for investors

Government discusses more than 50 investor cases, 14 Nov 2013 - 00:00, Tbilisi,Georgia

Government of Georgia pardons more than 40 investors that were fined for not fulfilling the investment liabilities. The total amount of pardoned fines composed GEL 2.8 million.

According to Deputy Economic Minister Dimitri Qumsishvili, the temporary state commission that was composed on the issues to study the property management agreements, considers only those cases that the imposed fines exceeds more than 100 thousand GEL and the requested period for delaying the liability of the investment is one year.

"The initiative will enable the investors to continue the businesses and meet the new agreements, Qumsishvili said.

Moreover, on the nearest government meeting the ministers will discuss the further pardon of fines worth GEL 4.6 million.