Iran's President urges companies involved in Justice Shares sale to ensure transparency
TEHRAN, Iran, June 2
Iranian President urged investment companies involved in management of Justice Shares sale to ensure full transparency.
"The provincial investment companies that are responsible for sale of people's Justice Shares should constantly provide the report of their work to the share owners," said Hassan Rouhani, Trend reports citing IRNA.
Rouhani and the cabinet have discussed the process of liberating Justice Shares and the rights of share owners to manage their shares by themselves or sell them via banks on June 2.
"Offering government's share at the stock exchange in various forms of exchange-traded fund (ETF) or directly should continue and all the necessary measures should be used to facilitate the participation of stock companies especially by tax incentives," the head of state said.
"The Civil Servant Pension Organization should be financed by domestic resources including property sale interest from stock companies that would increase capital market. The capital of stock companies should increase from the trade of shares," he added.
Rouhani requested to facilitate the process of privatization and liberalization of economy.
The Iranian president stressed that it is share owners' right to be informed about management of Justice Shares sale and transforming and preserving property, so that the owners could make decisions.
The Minister of Economic Affairs and Finance delivered a report on assigning government 's shares of public companies and banks at the stock exchange.
Iranian government has previously allowed the sale of Just Shares at stock exchange to help people in need that have been affected by economic pressure amid the coronavirus spread.
The Justice Shares was the byproduct of government privatization plan with each share worth 10 million rials (about $238).
Earlier, it was decided that 80 percent of public companies were to be transferred to public ownership, 40 percent of which were transferred through the Justice Shares and the rest was to be offered for privatization through the Tehran Stock Exchange.