Privatization of National Assets: Solution to Fiscal Deficits
Abstract
This paper is exploratory in nature and shall investigate the nature of privatization law keeping in focus the impact this law has created on the fiscal deficits. State Owned Enterprises are the surfeit of a nation which provides those goods and services which the market sometimes is unable to provide. These enterprises have a large share in the macro-economic structure of a county that aims in providing goods and services at a rate that is affordable for everyone. Through this paper the attention of the concerned authorities shall be drawn towards the fact that privatization is not the ultimate solution to all economic problems and that there are numerous other options and choices which will to cater the declining nature of our economy and increase in the heavy debts. This paper also has some factual reasoning regarding the enterprise which have been privatized but are not working up to the mark. Hence the gap in the nature of the policy making must be addressed looking for policies that will revive the working of SOE’s. the recommendation proposed in this paper allows foreign investors to invest in the public assets as it would increase the trading between the countries.
Downloads
Article Analytics Summary
References
A.R., K., & A.R, K. (1997, Winters). Pakistan's Industrial Experience andd Future Directions. Pakistan Institute of Development Economics .
Adam, S., & Mengistu, B. (2008). The Political Economy of Privatization in Sub-Saharan Africa. Social Science Quarterly, 78-94. DOI: https://doi.org/10.1111/j.1540-6237.2008.00522.x
Akhter Hassan, K. (2012 ). The Impact of privatization in Pakistan . Lahore : Ferozsons .
Asian Development Bank, A. (1998). Impact Analysis of Privatization in Pakistan . Manila .
Bank, W. (2014 ). World Development Indicators 2014. Retrieved from World Development Indicator: https://openknowledge.worldbank.org/handle/10986/18237
Che, J. (2009). A Dynamic Model of Privatization with Endogenous Post-Privatization Performance. The Review of Economic Studies , 563-596. DOI: https://doi.org/10.1111/j.1467-937X.2009.00533.x
Chowdhury, F. L. (2006). ‘’Corrupt Bureaucracy and Privatisation of Tax Enforcement’.
Haque, M. S. (2000). Privatization in Developing Countries: Formal Causes, Critical Reasons and Adverse Affects . In A. Farazmand, Privatization or Public Enterprise Reform? (pp. 217-238). Westport : greenwood Press .
Heimeshoff, M., Schreyögg, J., & Tiemann, O. (2014). Employment effects of hospital privatization in Germany. The European Journal of Health Economics, 747-757. DOI: https://doi.org/10.1007/s10198-013-0520-1
K-Electric. (n.d.). Financial Data . Retrieved from K-electric Investor Relations : https://www.ke.com.pk/investor-relation/financial-data/
M. Pheko, M. (2013). Privatization of Public Enterprises in Emerging Economies: Organizational Development (OD) Perspectives. International Journal of Business and Management. DOI: https://doi.org/10.5539/ijbm.v8n20p25
OGDCL. (2014-15). Complete Annual Report 2014-15 . Retrieved from OGDCL- Publications : https://ogdcl.com/sites/default/files/publication/CompleteAnnualReport201420140924204609262.pdf
Ordh, K., Walker, D. A., & R. Hunt, C. (2016). Privatization and Fiscal Deficits in European Emerging Markets. Emerging Markets finance and trade , 2585-2594. DOI: https://doi.org/10.1080/1540496X.2015.1087788
Pakistan, E. (2012). History of Privatization Commission . Retrieved from Privatization Comission of Pakistan : http://www.privatisation.gov.pk/about/Progress-in-PC.htm
Pakistan, E.-G. (2012, June 2 ). Privatization Comission . Retrieved from Ministry of Information and mass media broadcasting : http://www.privatisation.gov.pk.com
Pakistan, G. o. (n.d.). Privatization Comission of Pakistan . Retrieved from Policies and Objectives : http://www.privatisation.gov.pk/
PSO. (2013). Financial Reports . Retrieved from PSO Investors : https://psopk.com/files/pdf/investors/2013/ar2013_03_financials.pdf
PTCL. (2015). Financials . Retrieved from About PTCL : https://ptcl.com.pk/Home/PageDetail?ItemId=375&linkId=1106
Tom, K. (2010). PRIVATIZATION DEVELOPMENT IN TAIWAN: BACKGROUND AND ISSUES. Public Administration Quarterly, 3-21 .
Voszka, E. (2019). Management in Europe: Nationalizations and Privatizations. In M. Szanyi, Seeking the Best Master: State Ownership in the Varieties of Capitalism (pp. 13-52). Central European University Press.
yar, A., Arif, M., & Ab. Rahim, R. (2013). Privatization and Fiscal Deficit: a Case Study of Pakistan. Research Journal of Finance and Accounting .
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
CSRC Publishing and JAFEE adhere to Creative Commons Attribution-Non Commercial 4.0 International License. The authors, submitting and publishing in the Journal of Accounting and Finance in Emerging Economies published by CSRC Publishing, retain the copyright of their work and give the journal right to publish their work agreeing to the licensing policy under Creative Common Attribution-Non Commercial (NC-BY-NC 4.0) International. Under this license, the published authors let others remix, tweak, and build upon their work non-commercially. Yet all the other authors using the content of CSRC Publishing are required to cite author(s), journal name and publisher in their work. CSRC Publishing and JAFEE follow an Open Access Policy for copyright and licensing.
