Government shares in Saipa and Iran are transferred to Khodro

According to Eqtesad Online, quoting Fars, Seyed Reza Fatemi Amin, Minister of Industry, Mines and Trade, announced: 40% block of government shares in Saipa and 25% block of government shares in Iran-Khodro, which is related to the government’s share, through the stock exchange to the sector Will be privatized.

He stressed: the government should not own shares and government shares are transferred to the people in this way.

According to Fatemi Amin, world car production fell by 20 million units last year.

According to him, carmakers currently have a problem with working liquidity as well as research and development. Until now, they did not have the financial resources to buy the chip, so the cars were incomplete and the car was put on the market with a delay.

He also said that there are two mafias in the automotive industry, 1.5 of which are solved by the transfer of government shares, and we plan to offer government shares in blocks through the stock exchange earlier this year.

The Minister of Industry, Mines and Trade also said that the shares of Saipa and Iran-Khodro are pledged by banks due to banking facilities. presented.

Fatemi Amin also said that the government in Iran owns 6.7% of the shares through the Industrial Development and Renovation Organization, which is the collateral of banks, and also in Saipa, 17% of the shares belong to the Development Organization, which can not be transferred. , But 25% of the government shares in Iran-Khodro and 40% of the government shares in Saipa belong to the shareholders who are free and we transfer them through the capital market.

He also said that according to the president, the management of Iran, Khodro and Saipa will be transferred to the private sector, and anyone who can buy a 40% stake in Saipa can take two seats on the board of directors and appoint the CEO. Currently, one seat on the board is held by the State Pension Fund.

The Minister of Industry, Mines and Trade stated: With the transfer of government shares in these two car companies, both the shareholding problem will be solved and new money will enter the company and the corporate governance and shareholder structure will be improved.

Fatemi Amin also said: ‌ The import of cars, which has been banned since 1992 due to currency management, ۰۰ 2200 items, including cars, were banned due to the currency balance, but recently I announced as Minister of Industry that I am not against importing cars, but Car imports require about $ 1 billion to $ 2 billion, in which case the currency balance will be negative again.

He also said: “We suggested that the import of cars should not be eliminated, but the priority should be with hybrid cars with a power of less than 2500 cc and be subject to legal regulations.”