President at cabinet’s economic board:
All public departments required to offer their shares in stock market
At the meeting of the government's economic board, the president called the management of the capital market and the increase in initial public offering a principled and precise measure to stabilise, develop and prosper the country's financial and economic markets.
Speaking on Tuesday at the meeting, Dr Hassan Rouhani said that the government's move was welcomed by the elite, economic activists and the people, adding, "There are two important points here, the first of which is the seriousness and continuity of the offering of shares of large and medium-sized enterprises, especially state-owned enterprises in the stock market”.
“This should be done with a precise planning for people-cantered economy and the government's serious withdrawal from corporate governance and make the country's economy and production transparent, which will lead to serious prosperity and dynamism, and eliminate corruption,” said Rouhani.
Dr Rouhani added, "In this regard, all public departments are obliged to offer shares of their companies on the stock market according to the announced rules and regulations, and the continuation of corporate governance and ownership of surplus property by government departments is necessary for the economy to flourish faster”.
Stating that the second point that should be pursued by the officials of the Ministry of Economy and the Stock Exchange Organisation with high accuracy, delicacy and sensitivity, the President said, "Accurate monitoring of the stock market and balancing the supply and demand of shares on the stock market and the logical growth of stocks is the second important point that should be carefully considered to facilitate the acceptance and elimination of legal barriers”.
Dr Rouhani emphasised that false excitement should not affect the stock market, adding, "In this regard, the growth of stock market indices should proceed according to accurate scientific bases and based on the logic of the capital market".
The President pointed out, "The management of the stock market should ensure that the society and the people investing in the stock market have the necessary strength by applying the necessary precautions and careful care, so it is better to be more serious in this regard”.
Dr Rouhani described the organisation of the capital market and currency fluctuations as one of the important and decisive issues that has affected the country's economic environment in recent days and said, "One of the important factors that can control fluctuations is the supply of exporters' currency to the market".
“The government will prosecute those who have refused to supply foreign exchange earned from exports on time and in accordance with the rules, with the cooperation of the judiciary,” said Rouhani, adding, "At the same time, those who meet their obligations in time will receive special incentives and privileges from the government”.