Iran News ...


11/11/14

Iran divests state shares worth over $9.2b in 18 months

Source: Tehran Times

Iran has transferred 300 trillion rials (about $9.2 billion) of shares of state-run companies to the private sector over the past one and a half years, Iran Privatization Organization Director Abdollah Pouri Hosseini said.

The value of shares transferred over the mentioned 1.5 years is tantamount to the value of shares transferred since the establishment of the organization 12.5 years ago, he added.

The current Iranian calendar year, began on March 21.

On May 11, Pouri Hosseini said Iran would privatize 186 state-run companies in Iranian calendar year 1393 (March 2014-March 2015).

He said that the companies consist of 27 huge companies, 76 large companies, 31 medium companies, and 31 companies of other sizes.

The government has envisioned a large privatization program in the Fifth Five-Year Development Plan (2010-2015), aiming to privatize about 20 percent of state-owned firms each year.

Under the present interpretation of the Article 44 of Iran's Constitution, hundreds of state-owned companies have been privatized.

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