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The Expediency Council is close to revising the constitutional article governing private sector participation in key sectors of the economy, including banking, telecommunications and industry. Under the proposed fourth five-year development plan (FYDP), article 44 of the constitution would be amended to open the sectors. The proposals, which were initially rejected by the Guardian Council, were endorsed a second time by the Majlis (parliament) in May and have been sent to the council for arbitration.