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The thesis examines the process of privatisation of public enterprises (PEs) in Iran and Malaysia. The main proposition is that privatisation of public enterprises will not achieve successful outcomes unless sound and comprehensive provisions are established and followed. Public enterprises have different structures, objectives and degrees of obligation to the public interest and demand different tools to implement privatisation effectively. Knowledge of the modalities of privatisation and selection of the right modalities are contributing factors to successfully developing policies for privatisation. The socio-economic environment, cultural relations and legal barriers also need to be considered in the policy formulation process.