The biggest share trade in the history of Iranian bourse is to take place today. Over 3.1 billion shares of Mobarakeh Steel Complex, worth 10,232 billion rials, will be put on sale in the Tehran Stock Exchange (TSE), IRIB reported.
Privatization Organization announced the sale of shares of Mobarakeh Steel Complex and Iran Aluminum Company (Iralco) on November 25 and 26 respectively. Mobarakeh’s shares, priced 3,900 rials each, should be fully paid in cash.
The organization stated that if the 20-percent block sale of the shares of Mobarakeh Steel Complex fails to find purchasers, they will be offered in four five-percent blocks.
Those winning the tender have nine days to make payments in cash, otherwise the deal will be nullified.
Shares of companies are transferred to private sector in line with Article 44 of the Constitution which seeks large-scale privatization in key economic areas and downsizing the government.
Shares of the major aluminum manufacturing company, Iralco, were floated for the first time in the stock exchange on June 11.
Three percent of equities of the highly-profitable company were offered in the stock exchange to evaluate the prices. The company produces 54 percent of country’s total aluminum. Iralco is the first company to produce aluminum ingot in the country.
The giant Mobarakeh Steel Complex is currently the top company in the bourse.

Labor Law is one of the most important legislations in the country after the Constitution, playing an effective role in the economy.

Minister of Labor and Social Affairs Mohammad Jahromi has ruled out major changes to the Labor Law, saying that few articles will be amended.
Talking to MNA, the minister added that only eight to 10 articles will be amended. “There has been a lot of talk about the need to amend the Labor Law but the most important point is an agreement between employers and workers on the amendment,“ he elaborated.
Jahromi said that there certainly are differences on how various paragraphs of the law have to change, adding that his ministry has updated both employers and workers on its amendment programs.
The minister said some support amending over 100 out of 203 articles of the law but following extensive expert studies, the ministry concluded that only 8-10 articles have to change.
Stressing the need for amendment to remove the hindrances to production and investment, Jahromi stated that the onus of amending this law falls on the ministry. “So the issue has been raised in government’s Social Commission to elicit the views of other state organizations.“
He underlined that the Labor Law is one of the most important legislations in the country after the Constitution. The law plays an effective role in the economy so it is natural that economic, political and social experts express their views on the issue, the minister maintained.
Jahromi termed criticisms and suggestions on amendments to the law as useful, hoping that the move would be completed by the end of the Fourth Five-Year Economic Development Plan in 2010.

Desert, semi-arid and arid areas constitute about 85 percent of Iran.

Energy minister has urged countries participating in the Fifth Meeting of Board of Governors in Regional Center on Urban Water Management to set up a regional water market.
Speaking at a gathering in Tehran on Saturday, Parviz Fattah said that in addition to acute shortage of water, the region lacks proper and sustainable management of water resources, IRNA reported.
He underlined that the use of over 90 percent of renewable water in the agriculture sector with low efficiency and sharp decline in underground water reserves due to unchecked consumption indicate the importance of water management.
Regarding the worrisome results of climatic changes, he said that although systematic studies have not been conducted in the region to assess the impacts of climatic changes on water management, scattered studies show that it has intensified the drought periods and increased flooding.
He said that regional countries shoulder a heavy responsibility to counter and combat the challenges.
Therefore, the idea to form a regional body to resolve water problems, proposed for the first time by Iran, resulted in the formation of Regional Center on Urban Water Management in Tehran.
The minister said that a suggestion has been made to draw up a charter of cooperation among regional countries by forming an official working group.
Also, the role of non-governmental organizations in supplying, transferring and consuming water in the region should be considered and practical ways should be proposed to increase their role, he pointed out.
Highlighting that Iran has provided 85 percent of the funds for the center’s operations, he said that once the activities of the center are extended for the next five years, member countries should adopt policies on funding the projects.
He said that although 12 countries and five governmental and non-governmental organizations are members of the board, the center receives material and moral support from a few of them and the participation of other members in board meetings have not been satisfactory.
He explained that Iran faces water shortage, adding about 85 percent of the country’s area are desert, semi-arid or arid.
He put the annual rainfall at over 400 billion cubic meters, of which about 270 billion cubic meters pertained to evaporation and 130 billion cubic meters to renewable water resources.
According to him, of the mentioned figure, about 92 and 38 billion cubic meters are in form of surface and underground waters respectively.
Iran’s per capita renewable water resources stands at 25 percent of the average global standards.
Fattah called the improper distribution of water resources as the other problem, citing that about 67 percent of the surface waters flow only in 16 rivers with the annual water production of 62 billion cubic meters.

State organizations have since last week been notified of the executive bylaw on early retirement, said deputy welfare minister for parliamentary affairs.
Ali Kamiar told the Persian daily ’Iran’ that 84,000 government employees who have completed 25 years of service will retire within the next three years. Of them, he said that 40,000 are currently working with the Education Ministry.
The official stated that ministries and organizations can retire those requesting early retirement this year depending on their budgets. Women with job records of 20 years can also apply for retirement.
Kamiar said that ministries and state organizations can employ the retirees by observing certain rules and regulations and obtaining permits from Presidential Department for Management and Human Resources Development.
The early retirement law is aimed to pave the way for employing young workforce, he concluded.
Majlis ratification on early retirement of government employees was approved by Guardians Council on September 8. On August 26, parliament voted 154 to 3 with three abstentions on the bill authorizing the government to retire employees who have been on the job for 25 years. No age limit has been specified for the retirement of employees who have worked for the government for 25 years. Those retired are entitled to pension for 30 years of service.
Women employees with a job record of 20 years can be retired with pension calculated on the basis of 25 years of service.

A high-ranking Tajik official visiting the northern Iranian port of Bandar Anzali has called for expansion of ties with Iran particularly in the economic and trade sectors.
“Given the common language, culture and history between the two countries and the favorable attitude of both sides, having stronger bilateral ties seems only natural,“ ISNA quoted Abidallah Dolatahyev,
Tajikistan’s deputy parliament speaker, currently on a visit to northern Iran at the head of a parliamentary delegation, as saying.
“The proximity of northern Iran to Tajikistan and the existence of the Anzali Free Trade and Industrial Zone on the Caspian Sea, provide an excellent opportunity for both countries to expand technical cooperation as well,“ he said, adding that the people of Tajikistan consider Iran as their second home.
Abdolazim Bazgir, deputy managing director of Anzali Free Trade and Industrial Zone, for his part said that given its modern port facilities, Bandar Anzali is a favorable place for domestic and international investment as well as tourism.
“Exemption from a variety of import duties due to its free zone status, Anzali Free Trade and Industrial Zone has the capacity to become an economic hub for investors and thus play an important role for expansion of trade between Iran and Tajikistan,“ Bazgir noted.

Commerce Minister Masoud Mir Kazemi has predicted that the value of transactions conducted via e-commerce will reach 1,000 billion rials by March.
Speaking at the Fourth National e-Commerce Conference Saturday, the minister added that an estimated 500-billion-rial worth of transactions were electronically conducted during March-September this year.
E-commerce which accounted for 25 percent of total world transactions in 2005 rose to 36 percent in 2006, he added.
Referring to Article 44 of the Constitution, he said that general policies of the article seek boosting competitiveness and enhancing the role of the private sector.
Mir Kazemi called for amending laws governing commercial relations including Trade Law which date back 1931.
Turning to a bill to amend the law, the minister explained, “The document also includes chapters on e-commerce, e-commerce documents, authorizing the use of electronic power of attorney, new regulations on offices of merchants and account maintenance.“
Speaking at the same gathering, Minister of Communications and Information Technology Mohammad Soleimani said that foreign investment to the tune of about one billion dollars was attracted in the telecom sector in the year to March.
He added that 15,000 new jobs have directly or indirectly created in the sector this year as well.
The number of universities with Internet access also increased from 25 in the year to March 2007 to the current level of 340, he added.
Some 14,000 banks and 4,000 schools are connected to the Internet in line with the government’s plan to develop information technology and e-commerce, the minister noted.
The number of cellphone subscribers currently stands at 24 million; while it was seven million about two years ago when the present administration took office, Soleimani said.
“Information gap is significant in the country and nothing concrete can be done unless it is reduced,“ he concluded.
The gathering which opened on Saturday will wrap up today.

Iran’s oil revenues are expected to reach $60 billion this year, said Oil Minister Gholamhossein Nozari.
Speaking at his first press conference after winning vote of confidence from the parliament, the minister noted that the government is not allowed to spend even a single penny of the earnings without authorization from the Majlis.
“The government spends the revenues within the framework of Budget Law for fiscal year 2007-2008 and the rest is deposited in Oil Stabilization Fund.“
Turning to the outcome of the Third OPEC Summit, Nozari explained that ministers of member-states of the Organization of Petroleum Exporting Countries discussed a variety of topics such as development and the environment before the summit, IRNA reported.
Riyadh hosted the summit on November 17-18 under three general themes: Providing Petroleum, Promoting Prosperity, and Protecting the Planet.
He referred to the signing of an agreement on gas export to Bahrain as among the achievements of the president’s visit to that country.
Nozari said Iran also welcomed Bahrain’s participation in the development of one of its gas fields.
On offering gasoline at free market price, the minister stated that the final decision on the issue will be taken by the Majlis.
He, however, opined that if the parliamentarians give the green light for gasoline to be offered at free market price as well, this would have an inflationary impact on the economy.
As per the Budget Law, the parliament has obliged the government to implement a gasoline rationing plan via smart card as well as offering petrol at free market price.
Despite implementation of rationing plan in late June, the Ahmadinejad administration so far refused to execute the second part of the Majlis decision due to its adverse inflationary impacts.

Poor packaging has caused Iran to lose its position in regional and European markets, especially in the foodstuff sector.

Bulk export of agro products is responsible for the low price of such goods in international market.
Expressing this on Saturday, an agricultural economics expert stated that such export is uneconomical, adding various proposals have been made to improve export of agro goods but unfortunately none of them have materialized yet, ISNA said.
Underlining the need for packaging exportable agricultural products, Bahaeddin Najafi noted that at first target markets should be studied and then the products should be packaged and exported according to market demands. “Private sector should be encouraged to invest in this field,“ he added.
He contended that foreign investment in this field would expedite access to international markets.
Poor packaging has caused Iran to lose its position in regional and European markets, especially in the foodstuff sector. Inadequate packaging is also hurting the saffron industry.
Iranian saffron usually comes in wholesale quantity and large bulky packages. The appearance automatically deters potential customers.
Iran is one of the world’s largest producers of ornamental flora. However poor marketing techniques and an outdated packaging system have reduced to a minimum the country’s share of the international flora trade.
Standard packaging plays an important role in marketing.