Iranian government property privatisation up $13 billion

Iran Materials 9 January 2012 14:27 (UTC +04:00)

Azerbaijan, Baku, Jan. 9/ Trend M. Moezzi

The organisation tasked with overseeing the privatisation of Iran's government property has published its latest report, the website Tabnak reports.

The report issued by the Privatisation Organisation of Iran covers 2010 and the first half of 2011.

According to the report, the privatisation of government property totalled slightly more than 153 billion rials (more than $13.5 million) in 2010 and almost 29 billion rials in 2011 (nearly $2.5 million).

In 2010, 6.3 per cent of the property transferred to the private sector and 11.1 per cent was for payment of debt (public sector NGO's).

About 55 billion rials in government-owned companies' stocks were offered for sale, with 93 per cent put up as blocks of shares.

The stock offerings weren't equal in all industries and ministries. Some, like the commerce ministry, offered miniscule amounts of stocks for sale while the energy ministry sold the largest amount of stocks.