Focus on streamlined administrative red tape, optimization of the administrative system and recreation of a competitive atmosphere, more economic and social effectiveness, equilibrium between government and other economic sectors in the second and third five-year economic development plans convinced the government to approve the cession of Inspection Companies owned by the Iranian Ministry of Petroleum (MoP). To that effect, the National Iranian Petrochemical Company which had established TECHINCO ceded the majority of its shares to the private sections. Today, more than 34 per cent of TECHINCO’s shares are trading in Tehran Stock Exchange and the rest of shares belong to Petrochemical Industrial Investment Company as a private holding
