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Iran sets up special committee to sell $90 bn worth of state assets

US Rep. Ilhan Omar (D-MN) (L) talks with Speaker of the House Nancy Pelosi (D-CA) during a rally with fellow Democrats before voting on H.R. 1, or the People Act, on the East Steps of the US Capitol on March 08, 2019 in Washington, DC. (AFP photo)
Member of Iranian parliament’s budget appropriation committee Ali Babaei Karnami

Iran has set up special committee to sell some $90 billion worth of state assets with the purpose of securing financial resources needed by the government, according to a parliament lawmaker who has been briefed on the issue.

Ali Babaei Karnami, a member of Iranian parliament’s budget appropriation committee, said on Monday that heads of three branches of the Iranian government had proposed the idea for setting up a committee to sell nearly 40,000 trillion rials worth of state assets “within the shortest time possible”.

Babaei told the semi-official Fars news agency that Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei had endorsed the idea for the formation of the seven-member committee.

He said members of the committee have mostly been chosen from legal entities in Iran and will be immune from prosecution during the time of mission to sell the assets.

The lawmaker said the assets include properties, estates and assets owned by the Iranian administrative government, adding that proceeds from the sales will be deposited to a government account and will be used to finance budget needs of the government.

Estimates published in 2018 suggested that the Iranian government had some 50,000 trillion rials in priced and listed assets and around three times that figure in unlisted assets.

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