50856
52% of Registered Cooperatives Inactive
Economy, Domestic Economy

52% of Registered Cooperatives Inactive

Official figures by the Ministry of Cooperatives, Labor and Social Welfare show 106,491 or 52% of the country’s 205,455 registered cooperatives until the end of the fifth Iranian month Mordad (August 21) are either inactive or partly active. Also, 49 million people are registered as members of the nationwide cooperatives, whereas 43 million of them are active, Mehr News Agency reported. A total of 115.16 trillion rials ($3.22 billion at market exchange rates) has been invested in these cooperatives that have created 1,638,312 jobs. Cooperative refers to a firm owned, controlled and operated by a group of users for their own benefit. Each member contributes equity capital and shares in the control of the firm on the basis of one-member, one-vote principle (and not in proportion to his or her equity contribution). Article 44 of Iran’s Constitution stipulates a 25% share for Iran’s cooperatives in the gross domestic product. However, this share now barely exceeds 5%, officials say.

Short URL : https://goo.gl/g09SJF
  1. https://goo.gl/dXH9Nq
  • https://goo.gl/IwkdMO
  • https://goo.gl/a0Zvdz
  • https://goo.gl/SCESYI
  • https://goo.gl/b7vOY1

You can also read ...

Qatar, Oman Becoming Iran's New Trade Gateways
Iran is working to curb its trade ties with the UAE, replacing...
Connectivity Central to Iran-India Future Ties
Iranian President Hassan Rouhani’s recent state visit to India...
Coated Steel Strip Production Jumps 42% in 10 Months
Iran’s coated steel strip output reached a record 1.26 million...
Nissan to Test Self-Driving Taxis
Nissan Motor Co is taking its first steps to becoming an...
Export Billet Prices Climb Amid Higher Offers, Transactions
Iranian export billet prices went up by $5-15 per ton on an...
Renewed Efforts to Sideline US Dollar in Foreign Trade
Months after a meeting between Iran’s Leader Ayatollah Seyyed...
The emergence of a new market structure, based on the presentation of the periodic statistics of transactions,  has priority over the growth of technology.
Talking about statistics, almost all economists promptly think...
Rial Gaining Ground
Rial continued its gain against the US dollar in Tehran's...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus