A similar revolution was to occur in the commercial area.
The revolution began in 1963 when the fourth principle of the white revolution - Profit sharing for workers - was adopted.
In this implementation, this law became one of the most progressive of its type in the world.
Under its terms, employers were obliged to conclude collective agreements that provided:
1. Payment of bonuses based on higher productivity or reductions in operating costs
2. Payment to the workers of a part of the net profit.
A special bank geared to the needs of salaried workers made lowinterest loans of 4% a year - for home improvements and debt consolidation.
Close cooperation between labor and management was encouraged.
Three major principles governd our labor legislation:
1. Every Iranian has a right to employment.
2. The minimum wage for unskilled labor went up in direct proportion to the cost of living
3. Productivity schedules provided higher pay for higher individual output.
In August 1975, the Thirteenth principle of our revolution was enacted into law.
All private units of production which had exicted more than five years were required to sell 49% of their shares to their
own workers and employees.
newly contructed state-owned industries were to distribute 99% of their shares to the general public.