Sunday, November 28, 2004

Iran to privatize %65 of state firms - Persian Journal Latest Iran news & Iranian Article News paper

Iran to privatize %65 of state firms - Persian Journal Latest Iran news & Iranian Article News paper: "Iran to privatize %65 of state firms
Nov 28, 2004, 14:27

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The Mullah-run Expediency Council (EC) in a directive here Saturday approved the ceding of over 65 percent of shares of state-owned firms to the private and cooperative sectors, the EC public relations department reported.

The decision comes on the hills of a prior ruling by the arbitrative body to delineate comprehensive policies pertaining to the article 44 of the constitution which covers expansion of non-state sectors via privatizing state-owned and affiliated organs.

"The EC said the transfer of 65 percent of shares of public companies will only include large industries, and mines."

The defense and security-related industries, National Iranian Oil Company (NIOC) and affiliated firms are excluded from the directive.

The article 44 identifies the domain of the state sector as all large industries and mines, foreign trade, banking, insurance, energy generation, dams and large irrigation networks, radio and television, post, telegraph and telephone, airlines, shipping, railroads and others which have a public ownership and/or are state-affiliated."

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