Gov’t Will Transfer $3.4b in Shares to SSO to Settle Debt

The government will repay its 890 trillion rials ($3.4 billion) debt to the Social Security Organization by transferring shares to the organization, managing director of the SSO said.
Mirhashem Mousavi said the transfer would be in the framework of the 2021-22 budget law and be completed before the yearend on March 19, the semi-official Fars News Agency reported. 
The SSO is the biggest insurance company that offers insurance cover to non-state workers plus voluntary coverage to the self-employed.
Mousavi estimated government debt to be in the region of 3,000 trillion rials ($11.3b). As per the provisions of the 2022-23 budget bill, the Raisi administration should settle pay 900 trillion rials ($3.3b) next year.
Arrears to the SSO keep on rising due to the inability of successive governments to pay their share of insurance premium of workers and other unmet financial obligations under the law.