Iranian Privatization Organization

With marking the divesture of three power plants through OTC and tender, it is stated that each month one power plant with the total of 7 others would be divested. Seyed mohammad Aghdaee the deputy of IPO said in an interview with ISNA.

The leaders of I.R.iran Grand Ayatollah Khameniei said, the execution of entire and continuing Principle of Article 44 would unravel many problems and enforced the government to do two basic principles, precise management and prudent using the financial resources and improving the environment for doing business.

The performance of Privatization Organization activities and the Statistics of divesting the state-owned enterprises to the cooperative, private and non-governmental public sectors since 2005(Iranian calendar: 1384) to the first half of August 2010 shows that it is divested totally 695000 billion Rials Shares in these years which most of them have been belonged to the Justice Shares.

Head of Foreign Investment Organization announced assigning MoU with the Securities and Exchange organization to attract foreign investors in Irans capital market soon.

The IPO site is becoming of most active site among the various State internet sites.

Minister of Economic Affairs and Finance said: "During the last 4 years, divestitures of stock exchange were 9-fold of all divestitures." He added: "About 330 companies with the value of 70,000 billion Tomans have been divested in recent years."

New IPO president enumerated effective relation with other institutions and organizations, reasonable speed with logical manner within the discipline and professional deeds, as well as creation of convergence among institutions and areas related to the performance of the organization, accurate, comprehensive and rapid information of performance of IPO and considering applicants of divestitures of organization are part of his plans.

Seyed Shamsedin Hosseini, Minister of Economic Affairs and Finance appointed Peyman Noori Deputy Minister and IPO President.

The divesting Dana Insurance shares as the third insurance company subject to divestitures of principle 44 of the constitution on Monday this week at the stock market. Than Privatization of insurance companies in the first phase (initial divestiture of state insurance companys shares in the stock market) ends. Therefore more than 50 percent of the countrys insurance industry settles within the private sector hand.

IPO deputy announced the divesting of power plants by resorting to the tender and through OTC