Justice Shares Finally Pays Off!
* The Chief of Privatization Organization of Iran announced that the first part of the Justice Share Scheme profits equal to IRR 12,000 bn will be paid off from today, in a four months period, to shareholders in position of IRR 10,000,000 worth of shares or be of the two low income brackets earlier defined. With 49 companies available in the project portfolio currently, more than 49 mn people will be eligible to receive this profit. The rest will also be settled before the current year ends. According to this scheme, 40% of total value of divestible companies in each market, as the subject of the second law of Principle 138 of the Iranian constitution and Article 9 of the 4th Development Plan, were decided to be allocated to the 6 low-income quartile of the country. In addition, a 50% discount in shares’ prices within a 10-year repayment period, with priority being given to villagers and nomads, was approved for the two lowest brackets.