Audit court cancels private ownership of Iran’s largest farming company
Iran’s Supreme Audit Court has cancelled a government decision two years ago to divest shares in the country’s largest farming company to private owners.
In a ruling issued on Wednesday, an advisory committee of the Audit Court ruled against the privatization of Moghan Agriculture, Industry and Livestock Company which had been granted in October 2018.
Verdicts by the audit court, a subsidiary of the Iranian parliament, would be binding if no appeal is made within 20 days from its issuance.
Moghan, located in the northwestern province of Ardabil, had been sold for nearly 18 trillion rials (over $500 million at the exchange rate back then) to Shirin Asal Food Group and partners.
However, the privatization faced growing criticism from the very start with many believing the firm, which employs thousands of people and owns 2,600 hectares of orchards, had been sold very cheap.
A parliamentary lawmaker from Ardabil told the official IRNA news agency that the private owners had benefitted considerably from nearly two years of operation in the company and the government would owe them almost nothing in damages.
Sodeyf Badri said renationalizing Moghan was a popular demand among people in Azerbaijan and Ardabil regions which is home to the Iranian Azeri community.
Ahmad Alirezabeigi, another lawmaker representing the city of Tabriz, the capital of East Azerbaijan province, claimed Moghan’s current value has exceeded 400 trillion rials (nearly $1.345 billion).
Alirezabeigi said five members of the advisory committee of the audit court had ruled against the privatization, while one endorsed it and one was absent during the hearing held earlier on Wednesday.
The ruling comes just a week after Iranian Judiciary chief Ayatollah Ebrahim Raisi highlighted Moghan’s case during a trip to Ardabil, saying that the conditions that led to the privatization of the company in 2017 should be thoroughly examined.
Iran reports slight increase in mining sector exports in April-October
Immunity of Iran’s shipping industry to illegal sanctions
Iran parliament committee approves to lower car import tariffs
Hezbollah attacks Israeli forces after Lebanese homes blown up
World leaders, states hail ICC arrest warrants for Netanyahu, Gallant
MP: US accountable for possible Israeli 'foolishness' to attack Iraq
VIDEO | Israeli policies strangle Palestinian agriculture, economy
Iran's president offers condolences to Pakistan over terrorist attack
Canada’s Yukon town council at standstill over refusing oath to King Charles
Yemen's Houthi calls for jihad to protect Palestine against Israel
VIDEO | Internal rifts within Israel
PressTV NEWSLETTER
now
This makes it easy to access the Press TV website
