Gov’t to Sell Excess Property

In the ongoing parliamentary debate on the proposed 2022-23 budget, MPs have given the okay to the government to sell unwanted real estate via the Iran Mercantile Exchange. 
Accordingly, national and provincial organizations can and should cede their excess property “without upholding conventional formalities”, the Securities and Exchange News Agency reported.  
Income from the divestitures will be given to the provincial administrative bodies that divest property as per the fiscal budget law. 
As per rules, earnings from divestment of government property must be earmarked for development projects.
Earlier, Javad Jahromi, head of the supervision department of the IME, said the Economy Ministry has identified 383 properties that can be sold in the exchange market. 
Despite the fact that the government is facing chronic budget deficits, most administrative bodies have often refused to sell vast lands and holdings. 
In October, the First Vice President Mohammad Mokhber ordered governor generals to set up provincial taskforces for addressing issues related to divestiture. 
Selling property at the IME has precedent. The Ministry of Defense, Ministry of Road and a private bank are among the bodies that successfully sold their assets in the past.