The Iranian parliament (Majlis) rejected a controversial bill on privatization of the National Iranian Drilling Company (NIDC), reported the Iranian News Agency (IRNA), citing local press reports.
The agency quoted oil minister, Bijan Namdar Zanganeh, as telling Iran Daily on Saturday that privatizing NIDC was authorized by law, but added "if our colleagues are opposed to it in substance, then we will inform the government of this."
He clarified, meanwhile, that no discussion has been made on matters of "changing employment rules, lay-offs or cutting personnel," in the event of the NIDC's privatization, according to the agency.
Iran's minister of industries, Eshaq Jahangiri, called last week on the government to stop competing with the private sector, and instead, help the privatization process to support the industrial outputs.
He said that the private sector is recognized as the best basis for industrial development and the government should adopt measures to guarantee judicial and social security for the investors.
According to a study conducted in December 2000 by the Organization for Science and Technology, Iran's present industrial and technological structure has largely been influenced by factors intertwined with the characteristics of the oil sector.
"Improvement in the oil income in the early 1960s and the early 1970s helped to mitigate the technology constraint on growth by making foreign technologies increasingly accessible," said the study.
Iran adopted import substitution industrialization policy and used its oil income to buy foreign technologies, said the study
Oil and gas exports are forecast to bring in more than 22 billion
dollars, some 10 billion up on the current year, based on an oil price of 16 dollars a barrel in 2001, said IRNA -- Albawaba.com
© 2001 Al Bawaba (www.albawaba.com)
