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Privatization is the shortest way to achieve economic development

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Privatization is the shortest way to achieve economic development

13/8/2016 12:00 am

Success requires convincing the public

Baghdad-Emad Emirate

All countries in the world to develop their economies by adopting several methods include developmental pathways including privatization which should be supervised by the Government solely for evaluation of projects to ensure the wide participation of savers and contribute an appropriate investment climate.

In this regard the doctor paved Karim Jaber said economic academic shangar, Faculty of management and Economics at the University of Qadisiya: there are three elements of a President for the success of the privatization process is the need to support and convince her audiences and this support must be accompanied by cooperation from them to work as an organizer of the free market mechanisms and Government commitment to spontaneous and work to achieve them in a rational manner.

Privatization methods

Shangar pointed at interview for Ā«morningĀ» to multiple methods of privatization, including that include enterprise restructuring and converted to Government-owned companies and sell shares to the private sector, indicated that this method depends where inefficient management, as well as auction method which is used in small projects alongside another method by sector and by editing the sector concerned (monopsony), explaining that liberalization is a regulatory institution to monitor organizational matters, and privatization is based on The basis of management for large projects when the State is unable to finance, given the right to build and manage the project for a period of 15 to 30 years, and have won State is an annual fee that goes to the Government after the end of term.

He drew out the important role of the Government in completing the privatization and the development and evaluation of initial projects and restructuring and legislative changes required, and then marketing projects and do all the negotiations for this deal.

He noted that the Declaration should be clear and evident from privatization to the public, and not sale or intermediation influencers and to involve small savers to be for the common people, and the importance of comprehensive reforms privatization function to create an appropriate investment climate.

Shangar explained that the reason for some countries highlighted the adoption of privatization is that the international financial institutions (the World Bank and the International Monetary Fund) pressure on countries that failed to achieve economic development after that exacerbated their debts along with the collapse of the Socialist concepts after the collapse of the then Communist States system, turning most of its economies to a market economy, as well as trying to get rid of troubled projects on the one hand and on the other trying to rich countries increase their profits and open markets and expand ownership and economic problems download Poor economic management by the public sector, these factors pushed States to privatization as a process than economic problems.

Production incentive

Modern economic academic concluded saying: is not only economic and financial motive that prompted them to pursue privatization, but highlights the political factor of trying to eliminate political slogans through this approach the dimensions of political influence on the economy, social motivation of more personal freedom and create the incentive to produce and override the negatives and eliminate favoritism, and today I find many States of privatization means to eliminate their problems after The public sector's inability to solve it, privatization means to achieve economic development.

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