Privatization of PSU’s: can the corporate machinery reform the infamous ‘sarkari’ work culture

Abstract

In economics, privatisation is a fairly broad notion. It includes a number of actions, including the entrance of private capital, the sale of government-owned assets, and the transition to a private economy. As a result, three fundamental characteristics of privatisation are as follows: (1) measurements of ownership, (2) organisational measures, and (3) operational measures Ownership measures relate to the transfer of public enterprise ownership to private owners. Organizational measures concern the limiting of state authority in publicly traded firms. These include the use of strategies for leasing and restructuring firms. The means to increase the profitability and efficiency of public enterprises is addressed through operational measures.