IPO ready to divest shares of 337 state-run companies

May 2, 2017 - 9:19

TEHRAN- The shares of some 337 state-run companies are prepared to be transferred to the private sector by the current Iranian calendar yearend (March 20, 2018).

As Tasnim news agency reported on Monday the Iranian Privatization Organization (IPO) has classified 337 Iranian governmental companies in two groups and is ready to transfer their stakes to the private sector.
Earlier, IPO transferred 13.6 trillion rials (above $419 million) worth of the state-run shares to the private sector during the last week of Farvardin, the first month of the Iranian calendar year 1396, (April 17-23).
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.

HJ/MA

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