- Privatization is the process of transferring ownership of a business, enterprise, agency or public service from the public sector to the private sector.
In Favor :-
- Employees of private companies are given high salaries, so they are much more motivated to work, and less interested in corruption.
- Private companies take immediate action on those who take bribe. This creates fear in employees to take bribe.
- Private institutions take more care to keep them clean and to provide more facilities.
- Private companies have competitive spirit. So, they offer more features to public.
- Our country’s GDP increases from the taxes paid by private institutions.
In Against :-
- There is no guarantee that privatization leads to less corruption, because corruption does exist in the private companies too.
- The cost of products increases by privatization.
- If we take private petrol bunks, even though they keep petrol bunks clean, they charge high than the bunks under government control.
Corruption does not depend on whether it’s private or government, it completely depends on individual’s attitude. But by privatization, we can reduce corruption up to some extent.
Afterwords :- What are your thoughts on this topic? Feel free to express your opinion in the comment section below.