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Iran revises constitution to allow industry privatization

[JURIST] Iran overhauled Section 44 of its constitution Saturday, making changes which would allow for privatization of various industries, including shipping, telecommunications, and downstream oil and gas. The constitution, created in 1979, had previously decreed that all core infrastructure must be governed by the state, rather than by private enterprises.

The decision to permit industrial privitization was made by the Expediency Council, Iran's highest legislative body, in an effort to improve the country's failing economy. Reuters has more.

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