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Privatisation

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The word ‘privatization’ has been receiving much attention in business, government and academic circles on a global platform. Infact, the language and programmes of privatization have disseminated so rapidly throughout the. world that the phenomenon can be likened to a revolution or a boon. Privatization techniques have already been tried in countries like Great Britain, China, the US, Turkey, Brazil, Mexico and Japan.In our country too, a beginning towards privatization has been made with the sale upto 20 per cent of the equity capital of 30 plus select public sector units (PSUs), first to mutual funds and financial institutions and later to the investing public. While the experience of disinvestment of PSUs has been a mix of encouragement and disheartenment, it is advisable to go slow in the direction. This chapter tries to justify the need for going slow in the process of privatization. First, it is useful to know history, nature, objectives and the extent of privatization in our country and elsewhere.

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