Iran's major steel mills earmarked for privatization

The Iranian authorities have announced that 70 big state-owned companies are to be privatized in the near future. As part of the first phase of this policy, preparations are underway for the offering to the public of shares in Mobarakeh Steel Co., Esfahan Steel Co. and in Sarcheshmeh Copper Co. However, this policy will not affect the management of the big state-owned firms in question. Consequently, it is not expected to result in an increase in their efficiency. Decisions relating to management appointments will be kept as usual in the hands of the government.