Iranian government looks to sell shares on stock exchange
TEHRAN, Iran, May 28
Selling government's shares of companies and banks on the stock exchange would reduce government involvement in economy, stated the Government Economic Coordination Headquarters.
Iran's Minister of Economic Affairs and Finance disclosed plans to assign government shares and liberalization of Justice Shares to people during the Government Economic Coordination Headquarters meeting, Trend reports citing IRNA.
Meanwhile, Iranian President Hassan Rouhani has insisted on facilitating the process of liberalization, management of capital market and protecting rights of Justice Shares' owners.
The headquarters delivered a report on the first offering session of government's shares being traded by 3.5 million individuals in the stock exchange and forming exchange-traded fund (ETF) for more transactions.
It was also noted that food security depends on domestic production to be supported by the government.
Agriculture Minister Kazem Khavari provided information on production of basic goods and purchase guarantee of agricultural products to support farmers, ensure market balance and preserve production by fair prices.
Iranian government has previously allowed the sale of Just Shares (saham-e-edalat) at the stock exchange to help people in need that are effected by economic consequences of the coronavirus spread.
The Justice Share was the byproduct of government privatization plan with each share worth 10 million rials (about $238).