Monday, October 18, 2004

Iranian govt given green light to proceed with privatisation - News Details, Webindia123.com

Iranian govt given green light to proceed with privatisation - News Details, Webindia123.com: "Iranian govt given green light to proceed with privatisation
Nicosia | October 14, 2004 5:39:52 PM IST

Iran's supreme legislative arbitration body - the Expediency Council- which is headed by former President Akbar Hashemi Rafsanjani, has given the reformist government of the Islamic Republic the green light to proceed with the privatization of key sectors of the economy. These sectors include banking, insurance, foreign trade, telecom and postal services, airlines, railways, shipping, power generation, petrochemicals, lubricants and distribution of products.

A few months ago, the Guardians Council, which is controlled by conservative hardliners, had managed to block key parts of the five-year development plan prepared by the government of reformist President Mohammad Khatami. The Guardians Council claimed that ceding big industries to the private sector would be a violation of articles 43 and 44 of the Iranian Constitution. The dispute was referred to country's Expediency Council, which is the final arbiter of disputes between legislative bodies in Iran.

The decision of the Expediency Council was taken on October 2 said that with a view to assisting economic development and preventing further losses to the Iranian economy, the government is authorised to cede large industries to the private sector. The oil and gas industries, as well as radio and television will remain in the hands of the state.

It should be mentioned that the Iranian Parliament would have to approve the necessary legislation to facilitate the entry of private firms into the privatized sectors."

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