Supreme Leader Ayatollah Ali Khamenei issued a directive in early July 2006 ordering the sale of 80 percent of government holdings in a broad range of Iranian state-run companies, including those in banking, transportation, media and minerals.
The move represents a significant shift in an economy that is roughly 80 percent government-controlled, and amounts to an amendment to constitutional provisions that traditionally reserved key sectors for state ownership. Former Tehran Chamber of Commerce head Mohammad Reza Behzadian called it a transformation of the government's role "from an owner into a guide."
The order exempts the oil and gas sector, along with seven banks, the Aviation Organisation, the Ports and Shipping Organisation and core telecommunications firms. Iran is the world's fourth largest oil exporter and expected to earn 60 billion dollars from oil sales in the fiscal year ending 20 March 2007.
Certain defense-affiliated industries, including vehicle manufacturing and infrastructure construction, could be sold provided they play no role in military production. The plan still requires approval from Iran's executive, legislative and judicial branches, as well as the Expediency Council.
Historical summary. TurkishPress restated this wire report, first published in July 2006, in its own words.