Baku, Azerbaijan, Oct.11
By Fatih Karimov - Trend: Iran has sold $970 million of shares of government companies to the private sector since the beginning of the current year.
The current Iranian year began on March 21.
USD exchange rate in Iran is currently about 32,000 rials.
The Iranian government has envisioned a large privatization program in the Fifth Five-Year Development Plan (2010-2015), aiming to privatize about 20 percent of state-owned firms each year.
In line with Article 44 of the Iranian Constitution, hundreds of state-owned companies have been privatized with some of the shares being earmarked for distribution among 'deprived' classes, such as farmers and workers.
In a speech in March 2013, Iranian Parliament Speaker Ali Larijani said that transferring economic activities to the public will resolve the unemployment problem.
"Implementing Article 44 of the Constitution regarding privatization will hand over the economy to the public," Larijani stated.