Progress
See also: Iranian Economic Reform PlanClose to 370 trillion rials worth of shares of firms covered by Article 44 of the Constitution have been sold to the private sector in the past three years. The value of government assets are between 1,000 to 1,100 trillion rials ($110 billion), one third of which have been ceded to the private sector (December 2008).
In 2009 it was reported that 30 percent of the revenues obtained from ceding the ownership of state entities within the framework of Article 44 of the Constitution are allocated to the nationwide cooperatives.
As of 2009, Iran has privatized $63 billion worth of government equity in state-owned firms since 2005 (out of $120 billion). Subsequently, the disinvestment has brought the government's ownership in the GDP from 80% down to 40%. Privatization through the bourse has tended to involve the sale of state-owned enterprises to other state actors such as pension funds.
The Iranian Government announced in 2010 that it aims to raise some $12.5 billion by privatizing more than 500 state-owned firms. The money raised through privatization of the firms will be spent on paying the state's debts.
Read more about this topic: Privatization In Iran
Famous quotes containing the word progress:
“Progress celebrates Pyrrhic victories over nature. Progress makes purses out of human skin. When people were traveling in mail coaches, the world got ahead better than it does now that salesmen fly through the air. What good is speed if the brain has oozed out on the way? How will the heirs of this age be taught the most basic motions that are necessary to activate the most complicated machines? Nature can rely on progress; it will avenge it for the outrage it has perpetrated on it.”
—Karl Kraus (1874–1936)
“In fast-moving, progress-conscious America, the consumer expects to be dizzied by progress. If he could completely understand advertising jargon he would be badly disappointed. The half-intelligibility which we expect, or even hope, to find in the latest product language personally reassures each of us that progress is being made: that the pace exceeds our ability to follow.”
—Daniel J. Boorstin (b. 1914)
“A woman who occupies the same realm of thought with man, who can explore with him the depths of science, comprehend the steps of progress through the long past and prophesy those of the momentous future, must ever be surprised and aggravated with his assumptions of leadership and superiority, a superiority she never concedes, an authority she utterly repudiates.”
—Elizabeth Cady Stanton (1815–1902)