Iran’s largest privatization attempt in the current fiscal year (started March 21, 2017) kicked off on March 12 with less than a percent of the offered assets finding buyers.
According to Jafar Sobhani, an advisor to the head of Iranian Privatization Organization, the total value of public assets put up for sale was 90 trillion rials (about $2 billion).
This is while only 560.3 billion rials ($11.6 million) of the assets were bought by private bidders, IRNA reported.
March 13, 2018 19:18
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IPO: Biggest Government Privatization Bid Flops
The total value of public assets put up for sale was 90 trillion rials (about $2 billion), but only 560.3 billion rials ($11.6 million) of which were bought by private bidders
Years of state control over the economy have made the private sector take a backseat and incapable of taking bold risks for rejuvenating floundering businesses
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