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Iranian President considers sale of stocks to people as fair distribution of wealth

Tehran, Oct 28, IRNA-President Mahmoud Ahmadinejad said on Saturday that sale of government stocks to people from all walks of life is the beginning of a major development in the Iranian community and considered it as a measure towards fair distribution of wealth.

The chief executive made the remark while speaking at the conference marking the official sale of Edalat (justice) stocks to people from all walks of life.

He referred to public participation in national development, promotion of justice and minimizing the government's role in the current affairs as the basic goal of such a measure.

Ahmadinejad said that all Iranians should take part in national development.

The president said that the government stocks will be sold to people from all walks of life, of which 50 percent will be allocated to low income social class, adding that this has been authorized by the Supreme Leader.

He called on buyers of stocks not to sell them and benefit from the relevant interest, adding that once the stocks are purchased, they are not subject to sale for two years to prevent profitmakers from persuading stockholders to sell them.

During the conference, the documents of 4.6 million stocks issued in the name of the future provincial stockholders were passed on to managing directors of the cooperatives of 30 provinces.

... Payvand News - 10/28/06 ... --

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