حسن قالیباف

Recalling the negative consequences of mandatory pricing in stock markets, the head of the Securities and Exchange Organization said that the result of this action was the loss of shareholders, the supply of these products in the open market at exorbitant prices and The "upstream institutions" wanted to "not interfere in competitive market processes" to deal with such unintended consequences

Tehran, January. 2 (SENA) -Dr. Hassan Qalibaf Asl, head of the Securities and Exchange Organization, told the Securities  and Exchange Agency News (Sena) that the legislature generally enacts these regulations to control inflation and good intentions: "But these regulations are in conflict with the competitive economy." And it takes pricing out of equilibrium based on supply and demand and, naturally, wastes resources and creates rents in the economy.

He added that high goals will not be achieved by orderly pricing, adding: "Numerous experiences have shown that most products subject to orderly prices on the stock market go to the open market and are sold at exorbitant prices. Their sale in the open market flows into the pockets of intermediaries

The head of the Securities and  Exchange Organization continued: "With such a process, people will suffer, once, due to the delayed profits from their shares due to mandatory prices, and again, due to inflationary pressures caused by the high prices of products in the market."

Dr. Qalibaf Asl said: "This year, with the historic decree of the Supreme Leader on the liberalization of justice shares, almost all of our dear compatriots have become shareholders of large companies in the capital market, but now the regulation of sales prices of some products has caused companies to In practice, they are less profitable, and sometimes this significant difference in rates causes the population of millions of shareholders of companies to suffer. Repetition of such issues will deprive people of the capital market. A market that is seen as a stimulus for the prosperity of national production.

He emphasized that the Securities  and Exchange Organization, within the framework of its legal mission to protect investors, did not and does not agree with mandatory pricing and has always tried to prevent the loss of shareholders' rights by removing obstacles to transparent and efficient economic activity. This effort will never give up and will do its best for the benefit and well-being of shareholders who now exceed 50 million.

The head of the Securities  and  Exchange Organization pointed out: "One of the interests of investors is to make full use of the benefits of companies, and  issuers are obliged to use all their resources to secure and strengthen the interests of shareholders." However, measures such as mandatory pricing in areas such as steel, cement, automobiles, pressure on retirement institutions to provide liquidity, etc.

 However, the protection of the interests of the people done with a valuable motive, but not only do they not succeed in the field of action, but they also harm the interests of the shareholders, and inadvertently, only intermediaries win the implementation of such decisions.

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