Concept and International experience of privatization
Concept and International experience of privatization Bhakit Ram Ghimire Advocate call: 0977 9851044189 Concept: Privatization is the process of transferring an enterprise or industry from the public sector to the private sector . The public sector is the part of the economic system that is run by government agencies. Privatization may involve either sale of government-held assets or removal of restrictions preventing private individuals and businesses from participating in a given industry. [1] Privatization is an ongoing trend in many parts of the developed and developing world. Proponents of privatization maintain that the competition in the private sector fosters more efficient practices, which eventually yield better service and products, lower prices and less corruption. On the other hand, critics of privatization argue that some services - such as health care, utilities, education and law enforcement - should be in the public sector ...