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Dictators do not give up such important controls. So, who are those investors that Iran's Privatization Organization "previously approved technically and financially"?

Ahmadinejad's privatization is no laissez-faire style capitalism. If the past is of an indication, Iran's latest privatization sham is designed to consolidate the Islamic Revolutionary Guard Corps' (IRGC's) power over Iran's state controlled economy.

The Ayatollah Khomeini created the IRGC in 1979 after the successful takeover of Iran by the Islamic Revolution. The IRGC's early mandate was to defend the Islamic Revolution from within and without. But, over the years, it expanded its security role to control most businesses. The IRGC controls all strategic industries - including nuclear, weapons, transportation, shipping, energy, commercial services, banks, clinics, and even the black market industry. What the IRGC does not control on behalf of the State is owned directly by the state.

The forthcoming "privatization" of TCI demonstrates that Ahmadinejad, himself a former IRGC member, is now working to strengthen the IRGC's power over all state assets, putting his former radical comrades in charge.

As in previous "privatizations," domestically, the shares are sold to different companies and individuals whose names mean nothing to non-Iranians. Nevertheless, those familiar with Iran can attest that these are minimally veiled fronts for the IRGC.