32,000 billion tomans of government equity offered in H1

The Minister of Economic Affairs and Finance said that in the first six months of this Iranian year, 32,000 billion tomans of government's equity have been offered.

The PR department of Iranian Privatization Organization (IPO) - Dr. Farhad Dejpsand stated on Iranian TV that the transfer of government property is one of the methods of financing the government and added: “ETF funds and the sale of government assets to individuals with the national ID card in an equal way were examples of those methods and about 5.5 million people participated in the purchase of these funds and the with this method, they acquired shares and assets, and the fair distribution of wealth was accomplished. Using these methods, the country's budget was managed so far in a way that addressed many concerns of the economists.”

Regarding the transfer of government assets, the Minister of Economic Affairs and Finance said: “Last year, we earned 6,000 billion tomans from privatization, but in the first six months of this year, we earned 32,000 billion tomans using this method, and now all privatizations are done transparently in the stock market.”

Dejpsand continued: “By offering the ETF funds, we will distribute wealth among all people in some way, and we will also finance the government. In Iran's economic situation, considering the capital market is inevitable.”

The Minister added: "People who enter the capital market should be aware that in the environment they entered, they can decide their future by calculation and rationality, and in any situation, they should not decide based on the words of the Minister or others; and also if the government and the Supreme Council of the stock exchange do the groundwork, we will achieve the goals.

He also said that the third ETF consists of the government’s shares in three banks, Tejarat, Mellat, and Saderat, which will be offered soon.

Regarding privatization, he added: "If the treasury is violated somewhere, I will stop it."

Noting that in the previous law the financial competence was the only criteria for qualification, Dejpsand said: "Since last year, managerial and technical competence has also been considered."

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