Iran plans privatization of state industry, excludes upstream oil

London (Platts)--3Jul2006

Iran's supreme leader Alyatolla Ali Khamenei issued an executive order
Sunday calling for the privatization of 80% of the government's stake in
state-owned industries, official news agency IRNA reported. The privatization
will exclude the country's upstream oil and gas sector but will include the
downstream.
"The Supreme Leader said that the downstream oil and gas sectors will
undergo privatization and exclude the upstream oil and gas industry, National
Iranian Oil Co, the state companies involved in explorations and production of
crude oil and gas from the privatization drive," IRNA said.
Among the industries broadly covered by the planned privatization are
banking, insurance and air transport.
Khamenei was quoted saying that the privatization would help to boost the
role of the private sector and cooperatives in the national economy and would
also help them become competitive internationally.
"By putting into practice the action plan, the government's role will
undergo a shift from direct involvement in ownership and running the large
companies to supervisory and guidance of different sectors of the economy to
meet the regulations of the World Trade Organization gradually," Khamenei
said.

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