President at the meeting of cabinet’s economic coordination board:
Provincial investment companies must report to shareholders on a regular basis/ Emphasis on paying attention to the rights of Justice Share holders and their enjoyment of the right to manage sales
The 140th session of the government's economic coordination board was held on Tuesday under the chairmanship of President Dr Hassan Rouhani.
At this meeting, a report was presented on the process of releasing Justice Shares and the decision-making rights of the holders of this type of shares in terms of how to use their shares in the form of management or sales through banks.
In this regard, the President stressed the need to pay attention to the rights of Justice Share holders and their enjoyment of the right to manage sales, exchange of assets and its maintenance, and said that the shareholders should be fully informed and familiarised with their rights.
In this meeting, a report was also presented on the formation and operation of provincial investment companies.
Dr Rouhani emphasised, "Provincial investment companies should be able to obtain the necessary competitive management with full transparency and report to stockholders on a regular basis”.
During the meeting, the Minister of Economic Affairs and Finance reported on the plan to offer state-owned companies and subcontractors of state-owned banks on the stock market.
The president also called for greater ease in offering shares and the continuation of privatisation programmes to reduce the government's presence and popularise the economy.
Dr Rouhani emphasised that regular and balanced supply of government stocks in various forms in the form of exchange traded funds (ETFs).
In this regard, the President advised that with the full implementation of the law on financing the country's pension funds and military resources from domestic sources, including profits from assets and the sale of their assets in the admission of companies in the stock market to increase the depth of the capital market.
The President also called on the Ministry of Economic Affairs and Finance to provide public education and culture with the help of the IRIB and the media, especially cyberspace, in the field of smart presence in the capital market.
Dr Rouhani also called for the support of domestic production and the creation of a Surge in Production.