Privatization in Iran is set to take an important step forward as the governmet decided to cede the shares of a large part of its owned companies. 5000 billion tomans (close to US$5.9 billion) of governmental companies' stocks will be offered to market gradually.
The Head of the Privatization Organization, Pourhosseini told IRIB that about 700 billion tomans (US$825 million) of the state-owned companies had been sold during the preceding year.
According to the report, he added that the organization will offer another 1000 billion tomans (close to US$1.1 billion) at the begining of the new Iranian year, 1384, started on March 21.
Pourhosseini expressed hope that all of the US$5.9 billion of the governmental companies' stocks would be ceded by the end of the year. He announced that 69 percent of governmental organizations stocks were sold last year.
