Sputnik - Iran Supreme Leader Ayatollah Ali Khamenei has instructed the Revolutionary Guard Corps to decrease its investment participation in the state economy, raising the possibility that some of the organization�s holdings may be privatized.

The announcement was made by�Iranian Defense Minister General Amir Hatami.

Speaking to�state-run IRAN newspaper, Hatami stated that Khamenei instructed both the country's regular armed forces and the Islamic Revolutionary Guard Corps (IRGC) to�withdraw from�business that is not directly affiliated with�their work.

According to�Hatami, Khamenei instructed the armed forces and the IRGC to�either divest economic holdings on�the country's capital markets or sell them to�the private sector, according to�a report by�Bloomberg.

"They will pursue this matter until�these forces withdraw from�irrelevant economic activities, " Hatami added.

The defense minister did not disclose what companies would be privatized. According to�Radio Farda's report on�the issue, Hatami alluded to�entities related to�the "investment sector."
Khamenei's office did not comment on�the issue or on�the IRGC.


According to�Bloomberg, the IRGC has holdings in�Iranian construction, energy, banking, insurance and telecommunications industries.


"Our success depends on�market conditions," Hatami reportedly said.


The idea that the IRGC should decrease its share in�the state economy has been pursued by�Iranian President Hassan Rouhani since�early in�his first term in�office.


While the IRGC is estimated to�have control over�one third of�the state economy, it is unlikely that the organization will withdraw entirely, as�one of�its task is to�assist and support the government on�various projects at�its request and this could take the shape of�economic activities�� a directive cemented in�the Islamic Republic's constitution.


"These tasks are of�another nature and are in�order to�help various sectors," Hatami said. "Depending on�the requirements of�the government, this work can continue or it may not."


According to�Radio Farda, the Khatam ol-Anbia, the country's major engineering arm and one of�Iran's largest contractors in�industrial and development projects, will continue to�operate in�the construction sector, according to�the needs of�government.