Reasons for Privatization
Reasons for privatization include;
a. Privatization is enforced to ensure efficiency in the use of resources by the economic sectors.
b. The conversion in which the policy is embarked on is to permit a free market economy.
c. This policy encourages constant marketing of profit and eliminate losses.
d. Privatization creates more jobs and avenues for acquiring new knowledge and techniques in the production of essential commodities.
e. Funds are made available to the government through profit making.
f. Privatization lessens the fiscal burden of the government in terms of public expenditure on the maintenance and running of public or government-owned enterprises.
g. It ensures that government enterprises and services are handed over to corporations and transferred to individual experts, professionals, and management firms who can make them more profitable and viable.