RugNotes: Iran Carpet Co. to be privatized - Mohammadali Karimi: "Tuesday, February 08, 2005
Iran Carpet Co. to be privatized - Mohammadali Karimi
Economic news in brief (Feb. 6): "Iran Carpet Co. to be privatized
TEHRAN –- Managing director of Iran Carpet Co. Ltd said that most of the stocks of the company would be ceded to the private investors by the end of the year.
Mohammadali Karimi stated that the company is to sell some 19% of its stocks to its current employees, its retired employees and those weavers it sponsors. Meanwhile, some 51% of the stocks will be sold to the National Pension Fund and about 30% to the Commerce Ministry. He also pointed to the recent reduction in the volume of Persian carpet exports, saying, “This should not be regarded as a matter of concern for the price of our carpets has not decreased.” Foreign customers are now distinguishing between Persian carpets and those illegally copied in another countries, he uttered.""
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