28 semi-governmental companies to be privatized

The companies are affiliated with the central bank and six ministries including finance and economic affairs; industry, mining and trade; transport and urban development; oil; agriculture; and energy, Tasnim news agency reported.

The government possesses less than 50 percent of shares in the listed companies.

The Iranian government envisioned a large privatization program in the Fifth Five-Year National Development Plan (2010-2015), aiming to privatize about 20 percent of the state-owned firms each year.

Under the present interpretation of the Article 44 of Iran's Constitution, hundreds of state-owned companies have been privatized.

In May, Tasnim reported that the shares of 337 state-run companies are prepared to be transferred to the private sector by the current Iranian calendar yearend.

The Iranian Privatization Organization transferred above $419 million worth of the state-run shares to the private sector during the last week of Farvardin, the first month of the Iranian calendar year 1396, (April 17-23).

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