Formation & Establishment

The Privatization Organization has been incorporated based on Article ۱۵ of Islamic Republic of Iran ۳rd Economic, Social and Cultural Development Plan ratified in ۲۰۰۰, by changing the articles of association of the former Financial Organization for Promotion of ownership of Production Units. Its articles of association was approved by the cabinet on April.۱۸, ۲۰۰۱ and upon verification by Guardian Council, it was notified on May.۶, ۲۰۰۱.

This organization has practically commenced its activities with the new objectives and tasks since June.۲۰۰۱. The Privatization Organization is a governmental company affiliated to the Ministry of Economic Affairs and Finance, having legal entity and financial independence and the director of executive board and its managing director is the Deputy Minister of Economic Affairs and Finance.

By issuance of the Decree of Cabinet in ۲۰۰۱, the Privatization Organization, while performing its entrusted tasks and duties, was appointed as a specialized holding company in order to take action for offering and sales of its own shares in sub-companies, according to the rules and regulations.

Since ۲۰۰۰ by now, the secretariat of the High Commission of Divestiture is located in Privatization Organization and based on the ministerial order of the Minister of Economic Affairs and Finance, the director managing of organization is considered as the secretary of the High Commission of Divestiture.

Objective

The objective for execution of privatization plan in Iran according to provisions of article ۹ ۳rd & ۴th Development , Economic , Social and Cultural Plan of Islamic Republic of Iran, inter alias are economic growth , promotion of economic efficiency and productivity of materials and human resources , increment of compatibility and partnership of private sector in economic activities and rationalization of size of the government and reduction of financial and management burden in handling the economic activities .So this organization is active for materialization of the said objectives aiming on goals stipulated in its legal articles of association based upon execution of government privatization policies through divesting and sales of governmental companies shares to the private and cooperatives sectors .