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P. 1
Ch- 13

Ch- 13

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Published by Ramesh Maheshwari

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Published by: Ramesh Maheshwari on Oct 07, 2011
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04/22/2012

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Chapter
1
Privatisation
 
Privatisation
The performance of most PSUs is very pathetic. It is unethical to charge theIndian taxpayer simply to pay people for unproductive work. Instead, it is better to give it to someone, who can run it in a better manner.Whether private or public, every business uses the resources of nation andsociety i.e. human, capital, land and machine. And if it can not add value tothese resources then it is a burden on society as well as on the nation. A loss inPSUs not only depletes the nation's resources but also increases the fiscaldeficit that results in inflation. Acharya Vishnugupt (Chanakya) once said that the state should not indulge inbusiness.
 
Privatisation Defined
Privatisation is the process of involving the private sector in the ownership or operation of a state-owned or public sector undertaking. In a broader sense, itconnotes private ownership (or even without change of ownership) the inductionof private control and management in the PSUs. Barbara Lee and John Nellis(1990) describe it thus: "Privatisation is the process of involving the privatesector in the ownership of operation of a state-owned enterprise. Thus the termrefers to private purchase of all or part of a company. It covers the contractingout and privatisation of management--through management contract, leases or franchise arrangement.“
Privatisation can take three forms:
a.Ownership Measuresb.Organisational Measuresc.Operational Measures

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