Economy
Rouhani Wants Iran’s Largest Pension Fund Manager Privatized

President Hassan Rouhani said the investment arm of Iran’s main social security provider must be privatized as part of a wider effort to scale back inefficient public-sector involvement in the economy.
“The promise I have made to the parliament and people is that next year will be the year of privatization of large companies, including Shasta,” Rouhani said on Monday, according to the state-run Iranian Labour News Agency. The company’s formal name is Social Security Investment Co. Iran’s new calendar year begins March 21.
Fast Cars and Super Malls: Iran’s Revolution Has Mid-Life Crisis
Shasta has investments in pharmaceuticals, oil and gas, steel and cement. After international sanctions against Iran were lifted in 2016, the company said it was seeking foreign partners to help manage and expand $15 billion of assets in addition to selling stakes in almost half of 120 companies in its portfolio through public offerings or private equity investments.
Those plans received a major setback last year as President Donald Trump reimposed sanctions after pulling the U.S. from the 2015 multiparty nuclear accord to isolate and weaken Iran. European nations have developed a funding mechanism to try to salvage trade and investment with the Islamic Republic but it’s unclear if the protections it offers will reassure nervous investors.
Conservative opponents have also opposed Rouhani’s proposals to limit the economic footprint of sanctioned military entities such as the Revolutionary Guards Corps, a powerful military organization that controls a wide range of companies. The Iranian president says his bid to develop the private sector is backed by Supreme Leader Ayatollah Ali Khamenei.
The “worst economy” is one dominated by semi-governmental institutions, Rouhani was quoted by ILNA as saying.
-
Banking & Finance1 month ago
Oman Arab Bank Announces Increase of Authorised Capital to RO500mn and Paid‑In Capital Boost of RO50mn
-
Bahrain1 month ago
SPIEF 2025 focused on global and regional economic processes, market transformation, new tech, investment climate, financial policy and people
-
Banking & Finance2 months ago
Central Bank of Oman Issues Regulatory Framework for Digital Banks
-
Banking & Finance3 weeks ago
National Finance Reinforces Position as Partner for Growth, Offers a Comprehensive Product Suite to Support Customer Ambitions
-
Insurance2 months ago
Liva Insurance Sets New Benchmark with ‘Innovative Insurer of the Year’ Award at the New Age Banking Summit 2025
-
Energy4 weeks ago
Russian Energy Week from October 15-17, 2025 offers alternative formats of cooperation
-
Banking & Finance1 month ago
The Future of the International Financial System to be discussed at SPIEF 2025
-
OER Magazines1 month ago
OER, June 25
You must be logged in to post a comment Login