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Jan 04

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Iran reviews privatization impact on its economy

Discussing different aspects of privatization process in Iran;

Senior economic experts and officials gathered in Tehran to review the impact of the implementation of the policies outlined in the article 44 of the constitution, which focuses on privatizing Iran’s economy.
Addressing the conference President Ahmadinejad said that starting the privatization process in the country was a revolutionary step taken by the government.
In 2006, Leader of the Islamic revolution Ayatollah seyed Ali Khamenei decreed a renewed effort to privatize the economy and said in his order that “ceding 80 per cent of the shares of large companies will serve to bring about economic development, social justice and the elimination of poverty”.
Also addressing the conference, Iran’s minister of energy presented a report on the pace of privatization in his ministry;
According to the Article 44 of the Iranian Constitution, the economy of Iran consists of three sectors namely state, cooperative, and private. Banking and insurance, Industry, Mines & Metals, Transport and Oil, gas and petrochemicals are among the major companies and institutions listed to be privatized.
Under the privatization plan, 47 oil and gas companies worth an estimated $90 billion are to be privatized in the Tehran Stock Exchange by 2014.

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By Saman Kojouri of presstv.ir

Permanent link to this article: http://www.mfanni.com/iran-reviews-privatization-impact-on-its-economy/

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