30 maritime companies use money of the Algerian ports to raise their capitals

Over 30 companies of the maritime activity, specialized in boats’ equipment along with their representatives in Algeria used the government’s decision of 2005 which excludes the General Directorate of the Algerian Customs from collecting the costs of the entry to the Algerian ports and took all the amounts that were seized without any right.

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• Some foreign companies also smuggled and transferred these large amounts of money abroad, according to a report available at Echorouk. They used them in raising their capitals before selling them to a Swiss partner.
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• These companies previously seized more than 1500 million dinars and used them to raise their capitals to 350 million dinars, to sell them to a Swiss partner, just after holding a special assembly of the administrative council which decided the use of funds, belonging to the state to raise their capitals.
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• Documents at Echorouk revealed that the companies lost the amount of 650 million dinars between 2004 and 2005.