Privatization of the public sector requires some precautions to be taken by the Government. (State with reason whether the given statement is true or false)
Answers
The statement ‘Privatization of the public sector requires some precautions to be taken by the Government’ is true.
Privatization is the process where public ownership or control of any industry, business or service is transferred to private individuals or organizations.
Hence government should, however, take some precautionary measures in this regard. Privatization of the public sector definitely reduces the role of the public sector.
For a smoother and a swift internal process as well as to bring clarity to the process the government should take responsibility.
As well as government should take precaution so that only qualified and eligible numbers of investors or operators are associated with the process.
In this way, the process will help the government to achieve the objectives by providing with the widest range of choice and best prospect.