Revelation of 'Stock Market Rent' in Favor of 'The Better Ones'; Minister of Economy: Government Secretariat Made a Mistake

With the revelation of stock market rent for certain individuals following the issuance of a decree 51 days ago, it became clear that some managed the market with 'informational rent,' causing the majority of shareholders to incur losses in May. According to the Fars news agency, 51 days ago, after a letter from the First Vice President regarding petrochemical feedstock, the stock market experienced a historic and ongoing decline, with the overall index dropping to 350,000 units in the weeks following the decree. The stock market, affected by the news of this rent, took a completely downward trend yesterday. The identification of the reason for the stock market's decline in May has turned all performance indicators negative today, intensifying the outflow of real money from the capital market. A review of the market conditions the day after the letter from the Vice President shows that the overall stock exchange index experienced one of its darkest trading days, with a drop of over 120,000 units. Yesterday, also influenced by the revelation of this informational rent, refining symbols had the most negative impact on the index. The decline of the refining sector was influenced by two news items: the reduction of the base dollar rate to 28,500 tomans and the increase in petrochemical feedstock prices. In this context, Seyed Ehsan Khandozi, the Minister of Economic Affairs and Finance and the government's economic spokesman, denied the news, stating, 'This misunderstanding arose from the inaccuracy of the administrative area of the government secretariat, and although this issue was raised in the cabinet meeting on May 7, it was not approved and was referred to a working group and committee for review and expert opinion.' Ali Momeni, a capital market expert, stated in this regard to Fars that 'the date of the cabinet meeting on May 7 was mentioned in the government's announcement. At that time, the index was around 2.4 million, and after that, the overall stock market index began to decline.' According to him, some sold their shares with knowledge of this decree. In other words, the suspicion of the disclosure of insider information in the stock market has strengthened. Online Economy also reacted to this issue, stating that on May 18, after the heavy decline of the stock market, we called it Black Monday, but today seems to be the darkest day in the investment calendar of the country, the day when you realize that individuals with insider information dumped their shares on small shareholders and profited and left. What are the reasons for the historic decline of the Tehran Stock Exchange index? Siamak Khosravi-Pour explains. The continued decline of indices in the Tehran Stock Exchange; 'Serious constraints' for the government to secure the budget. Unprecedented collapse of the Tehran Stock Exchange; the Iranian economy has 'gone out of balance.' Changes in the use of 'productive assets' to create added value will be carried out by the Vice President's order.