TEHRAN- Iran Privatization Organization (IPO) is transferring shares of 140 Iranian state-run companies to the privates sector, and foreign investors are welcomed to make purchase if they wish to, Deputy Head of IPO Davoud Khani said, the IRIB news agency reported on Wednesday.
Expressing content that implementation of the nuclear deal between Iran and the P5+1 has set a proper bed for IPO and domestic investors to enhance their levels of ties with foreign counterparts, the official admitted that in a bid to improve economic infrastructure and reinforce domestic private sector, his organization has provided foreign applicants for buying Iranian shares with a list of the governmental companies with available stakes for being transferred.
According to him, IPO has transferred over half of the total of 1,100 state-run companies to the private sector since the Iranian calendar year of 1380 (March 21, 2001-March 20, 2002), however, some of the companies have been eliminated from the transfer list due to some problems.
Iranian state-run companies have transferred 109 billion rials (about $3.144 million) worth of their shares to the private sector since the beginning of current Iranian calendar year (March 20), the Fars news agency reported on Tuesday.
Meanwhile, 29.662 trillion rials (about $855.799 million) worth of the shares of state-run companies were transferred to the private sector in the past calendar year of 1394 (which ended on March 19).
The Iranian government envisioned a large privatization program in the Fifth Five-Year National Development Plan (2010-2015), aiming to privatize about 20 percent of the state-owned firms each year.
Under the present interpretation of the Article 44 of Iran's Constitution, hundreds of state-owned companies have been privatized.