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Iran to divest over $600 million worth of state-owned shares by Sept. 21

Business Materials 17 September 2012 22:54
Some 7.4 trillion rials ($603 million) worth of shares of Iranian state-run companies will be transferred to the private sector by the end of the first half of the current calendar (September 21), the Iranian Privatization Organization's director stated.
Iran to divest over $600 million worth of state-owned shares by Sept. 21

Azerbaijan, Baku, Sep.16/ Trend F.Milad/

Some 7.4 trillion rials ($603 million) worth of shares of Iranian state-run companies will be transferred to the private sector by the end of the first half of the current calendar (September 21), the Iranian Privatization Organization's director stated.

Mohammad-Rahim Ahmadvand told a press conference that last year some 245 trillion rials ($20 billion) in state-owned shares were divested, the Mehr news agency reported.

Privatization of stat-run entities will be accelerated in the current year. Iran has privatized up to 500 companies during the last six years.

The Government envisioned a large privatization program in its 2010-15 five-year plan aiming to privatize some 20 percent of state-owned firms each year.

The authorities have adopted a comprehensive strategy as reflected in their 20-Year Outlook Plan and the 5th Five-Year Development Plan to ensure the implementation of market-based reforms.

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