Do you empathize with Millie's preoccupation with attending the party? Why/ Why not?
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Answer:
Importance Of Public Enterprises
Public enterprises are playing an important role in the economic development of developing countries. They are involved in various sectors of economy. They play an active role in fulfilling the needs of people.
The importance of public enterprises is become clear from the following points
1. Planned Development
Most developing countries have five years development plans for economic development. Public enterprises are given specific roles and targets in such plans. Public sector programs are also implemented by public enterprises. They are important for planned development of the country.
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2. Infrastructure Development
Infrastructure consists of transport, communication, power, irrigation, drinking water and buildings. They require huge investment and long period is required to complete them. Private sector is not interested in such investment. Public enterprises are important to build infrastructure in the country.
3. Basic and heavy industries development
Iron and steel, electricity, cement, fertilizer, petroleum and telecommunication are examples of basic and heavy industries. They are essential for industrialization of the country. Private sector lacks resources and interest to invest in such industries. Public enterprises are important for the establishment of basic and heavy industries. Defense production is generally done by public enterprises.