State-owned shares worth over $110m to be divested by late March

January 31, 2018

TEHRAN- Transfer of the state-run shares to the private sector during the two-month period ending on the last day of current Iranian calendar year (March 20, 2018) will reach 5 trillion rials (about $110.37 million), according to the head of Iranian Privatization Organization (IPO).

Mir Ali Pouri-Hosseini said the value of transferred shares during the two-month time will equal that of the ten-month period of this year, Tasnim news agency reported.

IPO has transferred 4.054 trillion rials (about $89.49 million) worth of the state-run shares to the private sector during the ten-month time.

The Iranian government envisioned a large privatization program in the Fifth Five-Year National Development Plan (2010-2015), aiming to privatize about 20 percent of the 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.

MA
 

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