Some countries are handing over public services such as hospitals, railways and education to private companies to be run for commercial profit. Are governments justified in letting private profit manage the public interest?

Simply stated,

privatization

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is the transfer of government functions to the private sector. Governments in the modern world are increasingly privatizing public service utilities to operate them in an efficient and effective manner.

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,

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has brought forth some serious concerns about the process. But, in my opinion, with a proper set of rules and regulations, these issues could be resolved and

privatization

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can play an inevitable role in the progress of the country. On one hand, there are some worries in public regarding the process of

privatization

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.

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, many individuals believe that objective of serving the people may be lost by

privatization

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. The greed for a higher profit or private companies has increased the cost burden on the consumers.

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, the

privatization

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of electricity transmission and distribution has substantially increased household electricity cost.

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to

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, it is against the public interest as they pay taxes to the government for these facilities. So, they expect to receive these facilities at a reasonable cost.

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, there are certain benefits that are too large they cannot be ignored.

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of all, it is necessary to understand why governments go for the option of

privatization

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? The answer is that it all depends upon the economic stability of a country. There are certain departments that become white elephants for economic progress.

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, it becomes necessary to privatize

such

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institutes to earn a handsome amount of profit from them. To conclude,

privatization

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must be on the table if the country is to prosper. The concerns can be solved by governments through setting up regulations and their effective reinforcement.