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Gov’t Urged to Rewrite Privatization
Economy, Domestic Economy

Gov’t Urged to Rewrite Privatization

Head of Iran’s Chamber of Commerce, Industries, Mine and Agriculture, Mohseln Jalalpour believes the government should take measures to correct the previous mistakes in implementing the process of privatization as outlined in the general guidelines of Article 44 of the Constitution. In an interview with Persian daily Donya-e Eghtesad, he criticized the process of privatization in the past which he said led to “corruption and monopoly” rather than promoting competition. Article 44 of the Constitution obliges the government to transfer 80% of the shares of state-owned companies to nongovernmental entities. However, the majority of the large companies privatized so far have been acquired by quasi-government organizations, as the genuine private sector could not afford them. Jalalpour also noted that privatization should go hand in hand with liberalization, warning that privatization without liberalization could result in corruption.

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