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Iran to privatize some 36 energy firms

Energy Minister Habibollah Bitaraf said in Tehran on Monday that in line with the Third Five-Year Development Plan and reduction of state role in current affairs, 36 companies affiliated to the Ministry of Energy will be transferred to the private sector in the current Iranian year (started March 21), IRNA reported.

He told IRNA that the shares of the consultant, service and contracting enterprises will be extended to their employers, employees and managers.

"If the companies are involved in production, they will be purchased by investors from the private sectors or investment institutes in the light of their high added value," he added.

Pointing to the measures required for the extension of the companies affiliated to the Ministry of Energy, he said that they consist of drawing up fiscal bills, specifying their profits and losses, assessing the assets owned by them and transferring them to the Privatization Organization.

"Once the primary phases for their extension is accomplished and it is announced via the public media, applicants can bid for them through tenders," he noted.

The minister said that the extension license for 41 companies affiliated to Satcab Co., one of the mother companies of the Ministry of Energy, has been issued by the government. The said companies are mainly involved in maintenance.

"Five of the companies were sold last Iranian year and the remaining ones are to be sold during the current year," he concluded.

... Payvand News - 5/26/03 ... --

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