Govt owned petrochemical enterprises to be privatized

25 Sep '08

1 min read

Gholam Hossein Nejabat, Managing Director, National Iranian Petrochemical Company (NIPC), recently stated that 20 subsidiaries of the company have been selected for privatization.

NIPC is whole owned by the government of Iran and works under the Iranian Petroleum Ministry that is responsible for the development and operation of the country's petrochemical sector.

Some of the enterprises that have been completely privatized include Carbon Iran, Farabi, Abadan, Khark, Isfahan, Arak, Shiraz, Razi and Polika Karaj and 52 of the 81 subsidiaries of the National Iranian Petrochemical Company have been semi-privatized.

NIPC wants to privatize more companies but only if Iran Privatization Organization (IPO) approves the transfer of other petrochemical enterprises as a single block or holdings.

Experts are of the opinion that, privatization will help the nation progress as there will be proper management and infrastructure that would improve the quality of work, which at present is missing in Government run companies.

It is believed that, privatization will make the best use of available man power and material resources to add to the wealth of Iran. This will effortlessly reduce the problem of unemployment and inflation, which has become a major reason of worry for the Government.

More Textiles News - Iran...