Baku, Azerbaijan, March 13
By Khalid Kazimov – Trend:
The Iranian government has privatized worth of 90 trillion rials ($2.5 billion on official rate) of shares of its corporations through a bid.
Iranian Privatization Organization has described the development as the largest bid of the year, ISNA news agency reported.
The privatized corporations and institutions in Iran are involved in various sub-sectors of the economy including agriculture and power generation.
Moghan Agro-industrial & Animal Husbandry Company, Pars Agro-industrial & Animal Husbandry Company, Esfahan Power Generation Company, Besat Power Plant, Khorasan Power Generation Management Company, Sahand Power Generation were among the privatized companies.
However, the names of the buyers of the shares of the companies were not disclosed.
Through privatization of state-run companies, Iranian government seeks to restructure the country's economy and reduce the government's expenses by promoting the private sector.
Increasing productivity levels in large enterprises is also among the main objectives of selling the shares of state-run companies.