Gov’t to Transfer Shares Worth $1.4 Billion to SSO in Lieu of Debt

The government has approved a proposal to repay its debt worth 320 trillion rials ($1.48 billion) to the Social Security Organization by transferring shares to the organization, the minister of cooperatives, labor and social welfare said. 
Mohammad Shariatmadari said the government will transfer a portion of its shares in nine state-owned companies, IRNA reported.
The SSO is the biggest insurance company that offers insurance cover to non-state workers as well as voluntary coverage to the self-employed.
The minster did not provide details nor say which companies will be involved. However, inquiries by ILNA show the Iranian Tobacco Company is one of the companies.