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The financial statements have been signed to help remove the last obstacle in the way of privatization of the two major state-owned football clubs, Persepolis and Esteghlal, said Jaafar Sobhani, the top adviser to the director of the Iranian Privatization Organization (IPO).

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Despite previous announcements that the two major state-owned football clubs, Persepolis and Esteghlal, would be priced and be ready for auction by the end of the third quarter of the year, the ambiguities in debts have hindered the price-setting process, said Abdollah Pouri-Hosseini, the director of Iranian Privatization Organization (IPO).

President Hassan Rouhani’s Chief of Staff Mohammad Nahavandian said on Monday that the government’s role in the economy must be minimized in favor of the private sector.

More than 132 trillion rials worth of government securities have been transferred via initial public offerings (IPO) to the assignees since 2005 in accordance with the Article 44 of the Constitution, Iran Privatization Organization’s public relations office reported.

The Iranian Privatization Organization has offered a large amount of government securities, valued almost 32 trillion rials, within the past 8 months, the IPO’s public relations department announced.

100 percent of the shares of Damavand Petrochemical Company (DPC) will be offered through Iran Fara Bourse or over-the-counter (OTC) market on December 7.

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