Baku, Azerbaijan, May 22
Trend:
The Iranian administration has transferred over 38 billion rials (each USD makes 42,000 rials based on official rate) worth of the state-run shares to the private sector during the current fiscal year (March 20-May 18).
The aforementioned governmental companies’ shares were sold through tenders, the Iranian Privatization Organization(IPO) said.
The Iranian government plans to privatize 630 state-run companies during the current fiscal year till March 20, 2019.
The Iranian administration transferred over 13,614 billion rials worth of the state-run shares to the private sector during the last fiscal year (ended March 20).
Over 1,008 billion rials of assets were sold on the Stock Exhcnage in the 12-month period, meanwhile 12,606 billion rials of governmental companies’ shares were sold through tenders.
Since the Privatization Organization was launched in 2001, it has privatized 1,449 trillion rials worth of government shares till May 18, 2018.
The IPO managed to sell 792 trillion rials of assets on the Stock Exhcnage so far (54.6 percent of overall sold shares), according to the organization’s data.
Also, 472.4 trillion rials of governmental companies’ shares were sold through tenders (32.6 percent).
About 12.6 percent of the shares of the privatized business have been sold on the country’s over-the-counter market as well (182 trillion rials).
Through privatization of governmental 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 governmental companies.
