Iranian MP: Former administration used privatization for paying debts

Azerbaijan, Baku, Oct. 2 / Trend, N. Umid, S. Isayev

Iranian ex-president Mahmoud Ahmadinejad(2005-2013) used privatization for paying its debts, Iranian MP and head of parliament's Article 44 Commission, Hamid Reza Fouladgar said, Iranian Jahanesanat newspaper reported.

Parliament's Article 44 Commission is tasked with the execution of article 44 of the Iranian Constitution regarding privatization.

Fouladgar went on to note that, privatization policies during Ahmadinejad`s administration were not in line with article 44 of Iran's Constitution.

President Hassan Rouhani`s administration has suspended implementation of the article 44 for revising the previous administration's policies, he said, adding that, Iranian MP`s will hold meeting with Energy and Economic Affairs ministers during next week for making decisions about the issue.

Fouladgar said that, in the current solar year's (started on March21) budget's revision bill the figure of transferring state-owned companies to the private sector decreased from $14.91 billion (based on official rate of 24,800 rials per each USD) to $2.82 billion.

He went on to note that, some $6 billion worth of state-owned companies privatized during last solar year, which indicates that the last solar year budget's privatization figure($13.5 billions) realized by less than 50 percent.

On September 10, Iranian media outlets reported that Iranian economy minister Ali Tayyebnia has criticized the implementation of privatization policies by former administrations saying that just 10-15 percent of state shares have been really transferred to the private sector.

Therefore, the privatization process has not improved the efficiency of the private sector considerably, he added.

Many economic experts have expressed concern about transferring shares of state-run companies to semi-government entities which are neither governmental nor privately-owned.

During administration of Ahmadinejad, security and military organizations, particularly the Islamic Revolutionary Guard Corps (IRGC), and the semi-state companies affiliated with them have gained a big share of the privatized assets.

IRGC has grabbed a large portion of Iran's economy, especially in the oil and gas industries, and its former commanders occupy numerous government posts. As a result, most trade and oil contracts signed by Iran necessarily involve the IRGC.

Apple announces 200 mln USD fund in forestry projects to reduce carbon from atmosphere
Apple announces 200 mln USD fund in forestry projects to reduce carbon from atmosphere
U.S. replaces Britain to be largest source of Ireland's imported goods
U.S. replaces Britain to be largest source of Ireland's imported goods
Azerbaijan's AzerGold to fund creating test laboratory in Dashkasan
Azerbaijan's AzerGold to fund creating test laboratory in Dashkasan
Loading Bars
Latest
Apple announces 200 mln USD fund in forestry projects to reduce carbon from atmosphere
U.S. replaces Britain to be largest source of Ireland's imported goods
Azerbaijan's AzerGold to fund creating test laboratory in Dashkasan
Daimler AG unveiled the electric Mercedes-Benz S-Class luxury sedan (PHOTO)
Canadian lawmakers call for action from U.S., Canadian leaders in pipeline dispute
Economic outlook is brightening - Fed's Mester
Antibiotics in development not enough to tackle 'superbugs' - WHO
China’s Geely targets slice of premium electric car market with ‘startup’ brand Zeekr
Kazakhstan to create concept for development of creative industries
Italy hikes 2021 budget deficit to 11.8% of GDP: source
Turkey registers more than 61 000 new coronavirus cases
IMF corrects estimate on Iran's foreign exchange bank reserves
Kazakhs Association founded in Japan
Turkey provided invaluable support to Azerbaijan in information war with Armenia - MP
Georgian Co-Investment Fund eyes to implements another energy project
Baku Metro opens tender to buy metal structures
Volume of lending to construction sector greatly increases in Azerbaijan
Net profit of Azerbaijani ASB Bank in 1Q2021 decreases
Azerbaijan eyes starting fish caviar export to Hong Kong in 2021
Aggregate capital of Azerbaijani ASB Bank grows
Georgia's Silknet maintains strong cash balance in 2020
Armenia confuses history with mythology again - Azerbaijani Foreign Ministry
Azerbaijani president congratulates president of Djibouti
Turkey leads among countries investing in Azerbaijan's non-oil sector (PHOTO)
Museums like War Trophy Park in Baku, open in many countries - Russian historian
Russia ready to assist in normalization of relations between Azerbaijan, Armenia
Azerbaijan has great opportunities for wind energy dev't - expert
Azerbaijani Foreign Ministry responds to statement of OSCE MG co-chairs
National Bank of Georgia sees decrease in international reserves
Various types of fabrics exported to Turkmenistan from EAEU countries
Kazakhstan's KMG Engineering to buy pump-compressors via tender
1Q2021 assets of Azerbaijan Industry Bank slightly down
Turkmenistan Railways opens tender for installation of surveillance cameras
Kazakhstan’s telecommunications operator to pay dividends for 2020
Kazakhstan’s Kazatomprom sells its solar energy subsidiary
Azerbaijan, Belarus discuss military-technical cooperation prospects
Passenger traffic in Georgia slowly getting back on track
Zangazur corridor to create single economic space between Turkey, Azerbaijan - expert
Kazakhstan considers standardized license agreement with EAEU members
Uzbekistan considering restoring air communication with Azerbaijan
Precious metals production down in Kazakhstan
Azerbaijan discloses number of COVID-19 vaccinated citizens
Italian senator: Why Armenia destroyed Aghdam if it considered it to be its own? (PHOTO)
Volume of wheat flour exports from EAEU to Turkmenistan revealed
Azerbaijan's 1Q2021 pharmaceutical retail turnover grows
Money transfers to Georgia up in March 2021
New IRTI Report Highlights Progress of IsDB Member Countries Towards SDGs
Spain eyes new projects in Azerbaijan’s petrochemical sector – ministry
Spanish companies show interest in Azerbaijan’s renewable energy projects – ministry
Azerbaijan's 2M2021 foreign trade turnover figures published
Azerbaijan names 1Q2021 revenues from retail trade in gasoline, diesel fuel
Citigroup profit triples on $3.85 billion reserve release
India fast-tracks approval for foreign vaccines
Azerbaijan confirms 2,317 more COVID-19 cases, 2,109 recoveries
Study shows Indians among most optimistic about early return to pre-Covid normal
India, France Can Assume Leadership Role In Run-Up To COP26: French Minister
Path Of Future World Order Will Be Set In Indo-Pacific Region: EU Council President
Azerbaijani PASHA Bank's profit surges in 1Q2021
Turkey sees decline in number of real estates bought by Azerbaijani citizens in 1Q2021
Turkmenistan increases potato imports from EAEU
Opening of Zangazur corridor to expand Azerbaijan's transit potential, says expert
Georgia sees increase in subsistence minimum
Volume of obligations of Azerbaijan’s PASHA Bank in Q1 2021 increases
OSCE Minsk Group took no concrete steps to resolve Karabakh conflict, says Azerbaijani MP
Zangazur corridor cannot be unblocked without Turkey’s agreement, participation - President Aliyev
Turkish ministry issues data on cargo shipment via Iskenderun port for Jan. through Feb. 2021
Shell proposes guidelines for achieving net-zero emissions in EU
Until last days, Pakistan was always on our side - Azerbaijani president
Turkey, Uzbekistan, UAE lead in dried fruit export to Georgia
Karabakh will generate lot of GDP in non-energy sector of our economy, also transportation - President Aliyev
Our international efforts in region led to creation of new formats of cooperation - President Aliyev
EBRD committed to financing renewable energy projects in Kazakhstan
Georgia's banking system remains large relative to size of its economy - Moody
We will do everything if Armenia has positive signals for us to try to build connections - President Aliyev
Moody's sees low risk stemming from waste and pollution issues in Georgia
Putin reaffirms Russia’s support for Lebanon’s sovereignty
Georgia benefits from favorable debt structure - Moody
Tipalti buys Approve.com in all-Israeli fintech merger
“The Guardian” must refute defamatory article about New Azerbaijan Party
Iran's trade turnover with Qatar drops
UK job ads and restaurant bookings rebound as lockdown eases
Turkey issues data on volume of crude oil shipment via local ports from Jan. through Feb. 2021
Iran can enrich uranium to high degree – President Rouhani
Shell to raise share of has in hydrocarbon output to 55%
Kazakhstan set up task force to develop local investment management system
Production of catalysts for Iran’s petrochemical sector launched
Data on cotton yarn sales on Turkmen exchange in March 2021 revealed
Bank of America profit more than doubles on reserve release boost
Group of journalists visit Azerbaijan’s Aghdam district (PHOTO)
Russian company to supply big batch of agricultural machinery to Azerbaijan
Shell targets 2-3% reduction in carbon intensity this year
Iran’s PMO unveils volume of cargo loaded, unloaded in Fereidoonkenar port
2M2021 volume of stone coal shipment via Turkish ports disclosed
Data on shipment of goods across Turkish Antalya port from January through February 2021 disclosed
Graduate of Baku Higher Oil School marries Pakistani student from same university (PHOTO)
Data on cargo movement through Turkey's Gemlik port revealed
Turkey's steel exports to China surge
Turkey’s activity on Turkmen commodity and raw materials exchange in March 2021
Iran reveals COVID-19 data for April 15
Azerbaijan announces commissioning date for 'Victory Road' to liberated Shusha (PHOTO)
All news