Iranian government to sell out its share in dozens of companies

Business Materials 29 December 2017 12:37 (UTC +04:00)

Baku, Azerbaijan, Dec. 29

By Khalid Kazimov – Trend:

Iranian Privatization Organization has announced that the government plans to sell out its share in 25 companies over the coming weeks.

Seyyed Jafar Sobhani, the spokesperson of the organization, has said that the government will auction the government shares worth 19 trillion rials (about $453.6 million at free market rates) on January 8, IRNA news agency reported.

Under the decision, the government will sell out its whole share in the Sefidrud agriculture and animal husbandry company, the Iran Silkworm Rearing Company as well as 14 fuel stations in the country.

Article 44 of the Constitution of Iran seeks to move toward market economy through privatizing government companies.