Aluminum and Copper

Controversial assignment of Iralco shares in the Steel Pension Fund

Controversial assignment of Iralco shares in the Steel Pension Fund
Mining News Pro - While recent details of the offenses committed in the supply below the stock price of the Steel Fund have been raised, the uncertainty about the transfer of 20% stake in the Iralco Steel Fund has been made some time ago.
  Zoom:

According to Mining News Pro -The weakening of industrial companies by exploiting managers and profitable shareholders is a problem that sometimes reduces the financial and economic power of industrial companies, and this is a challenge to the fast-growing production in industrial units of the country.


Employment in another country is an important issue directly related to the prosperity of the industry. The lives of a large number of industrial workers are tied to industrial enterprises, but unfortunately, at present, the labor population of many manufacturing units in different provinces of the country has halved.


Retirees have not even been exempted from this, and their rights have been undermined by the weakening of industrial companies. In recent months, steel retirees have been protesting for their rights and pursuing their deferred claims from the Steel Pension Fund, and each time they have heard that there is not enough liquidity to pay a pension.


The publication of the letter of the chairman of the Economic Commission for the control of the whole country regarding the violations committed in the sale of shares owned by the Steel Pension Fund, which resulted in the loss of 90 thousand retirees of this industry, became news.


Pour Ebrahimi, in a letter sent to Judge Seraj referring to correspondence with the Minister of Economic Affairs and Finance and the chairman of the Securities and Exchange Organization regarding the issue of securities and securities companies `violations at the time of the sale of shares belonging to the Steel Workers` Support and Retirement Fund : After more than a year of this move and the transfer of shares belonging to the Steel Staff Support and Retirement Fund and the abolition of the right to thousands of retired steel in the country, unfortunately, none of the organizations involved in this issue respond to this situation. Therefore, due to the obligation to stay this issue and to prevent the violation of the rights of more than 90 thousand retirees of the National Steel Fund, they demanded legal and special measures to prevent the abolition of the rights of the retired.

n 2013, the Supplemental and Retirement Fund of steel workers with a population of more than 90 thousand people has begun a loan of about 450 billion USD from the Bank for the Welfare of Workers due to the lack of liquidity to pay retirement pension.


In order to receive this facility, the fund provided a portion of its shares in the Development Investment Company and the mines and metals to the bank, and a letter of attorney for the sale of shares to the bank.


Four years after the acquisition of the facility, the Retirement Fund did not have the ability to repay the loan, it agreed with the Welfare Bank to extend the loan, and revoked its sales office and announced the waiver of the lawyer to the organization Shares and Welfare Bank. The total stock was given at a price less than 700 billion USD, while the actual stock value was much higher than this.


Apart from the issue of selling below the stock price of the stock exchange in the stock exchange, a few months ago, ،Tasnim News Agency, by publishing a series of reports on the issue of 20% stake in the retirement fund shares in the Aluminum Company of Iran, also paid. Some time later, the investigation into how the shares were transferred from Iralco (Aluminum Arak) to the Majles.


According to a recent announcement, a number of experts at Iralco, while criticizing the sale of the block of management of the Steel Pension Fund at Iralco, demanded that the deal be disbanded through the stock exchange.


According to some reports, the shares of the Steel Pension Fund at Iralco Company, without rivals and exclusively without real price discovery, have been handed over to non-resident individuals, which has the consequence of the possibility of collusion, as well as non-compliance with legal provisions regarding the transfer of part of the company`s shares Iralco has been raised to the private sector in the form of securities and securities. In addition to the probabilities and concerns raised by the Bank for Welfare, it has been one of the issues that has not only failed to resolve the problem of retirement, but may also cause more fundamental and complex problems in this complex.


   Short Link:  
Related News
Esfahan Mobarakeh Steel co.
HOSCO
khuzestan steel
chadormalu Co.
ghadir neiriz co
IranAluminaJaajarm
sangan steel
ahan o fulad golgohar