Wednesday, March 21, 2018

SSO in Great Distress

SSO’s investment arm, Shasta, acquired more than 90% of its assets as a result of the previous government’s debt settlement and 70% of them are either running at losses or underperforming
Wednesday, March 21, 2018

SSO in Great Distress

Social Security Organization of Iran is in a sorry state. 
The government continues to encourage the cash-strapped organization to sell off its shares owned by Social Security Investment Company (known by its Persian acronym Shasta). This is while the government’s indebtedness to SSO is hitting new lows by the day.
The organization’s resources will be channeled into the treasury as of the beginning of the new Iranian year (March 21), as determined by lawmakers last month.
One of the main criticisms leveled at Minister of Cooperatives, Labor and Social Welfare Ali Rabiei, as well as one of the articles of his looming impeachment on Sunday, is the sad state of pension funds, particularly SSO, the Persian daily Shargh reported.  
Under the circumstances, the significant role of those in charge of the country’s largest pension fund is undeniable. But who is going to defend the interests of the laborers pension and welfare fund?


Subscribe to the Financial Tribune to continue reading this article or Log in to your account if you are already a subscriber.

Find out more about our subsciption plans here.

Short URL : https://goo.gl/ZiiqUb
  1. https://goo.gl/yxeXu1
  • https://goo.gl/1qYvYE
  • https://goo.gl/EyHX27
  • https://goo.gl/GXovQ8
  • https://goo.gl/zhH2gL

You can also read ...

Tehran Shows 4th Biggest Upturn in Economist’s Livability Index
Tehran is one of the top five cities in the world to have...
Over €81m Worth of Airport Equipment Purchased  Post JCPOA
Iran Airports & Air Navigation Company, an arm of the...
Date Exports Grow 27.7% to $102m in 4 Months
Close to 89,220 tons of different kinds of dates worth more...
Persian Melon Exports Earn $34 Million
Iran exported 88,940 tons of Persian melons worth $34.43...
Potato Seeds Imported From  5 Countries
More than 875 tons of potato seeds worth $1.63 million were...
Afflictions of Higher Education: Degreeism, Poor Supervision
Less than a decade ago, education, especially in prestigious...
Decline in Non-Oil Trade With Taiwan
Iran traded 455,922 tons of non-oil commodities worth $326.43...

Add new comment