Promoting privatisation

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SUCCESSIVE political governments back-pedalled on privatisation. It is indeed unfortunate. They were scared of pressure from the trade unions as employees could be affected by privatisation. Vested interest groups who want the state sectors to remain, also opposed privatisation. The political governments could not rely on their own commitment on privatisation. The views of economic experts and business groups were ignored too. These are among the main reasons why the political governments had to repeatedly abandon privatisation half-way or further down their tenures. Clearly, the anticipated backlash from the anti-privatisation groups halted the process.
The interest groups opposing privatisation, though a fraction of the total population of the country, are more vocal and capable of mounting pressure on the government. That is why, the governments should have made the people aware of the benefits of privatisation and why the vested groups were opposing it for the gains of a few.
Privatisation would make the economy efficient. Inefficient public sector continues to retard economic progress. The government could mobilise public opinion to counter the misinformation of the anti-privatisation lobbies.
Nurul Huda
Bangladesh Agricultural University
Mymensingh