Private Sector In Favor Of Krg

PRIVATE SECTOR IN FAVOR OF KRG

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Title

PRIVATE SECTOR IN FAVOR OF KRG

Introduction

Privatization is counted as one of the most common arguments in

today’s world. It is considered as an efficient sector for growth, sustainability,

quality, and inclusiveness. Defining the key terms is crucial to understand

the main point of this report, so it is important to know what is the public

sector, private sector and their advantages and disadvantages of the

mentioned sectors. The main task of the public sector is to provide goods

and services to the general public. For public goods or services, objects that

all people have the right to use and cannot be prohibited from using it. Private

goods are goods that the owner can seize and prevent others from

consuming. Public institutions are established with the permission of the law,

and their duty is to provide services of general interest. The public sector

may vary from country to country. A simple package on security (internal and

external), the construction of a mainstream network, basic education, health

services, and may include more services, such as government assistance

on Housing, secondary and university education. The duty of the public

sector of any country can be extracted from the duties of the state in the

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constitution of that country. The public service feature is that, in general,

services provided in the public sector do not have the ability to distinguish

separately and are not provided for a specific corporation, but all can take

advantage of these facilities. For example, when basic education services

are provided by the government, all segments of society can use it.

Generally, the public sector in each economy would include a large part of

that society. It should also be noted that the economic definition of the public

sector may differ from its legal definition. Despite the fact, that public sector

is in favor of the majority or almost all of the society, private sector is coming

first in term of providing better services and goods regardless of who and

how many will benefit from it.

Main body

In recent decades, the privatization program has been pursued by

many developing and developed countries with different political systems

with the aim of providing a better performance for the society and achieving

economic growth. Also, it forms a wide-ranging term that covers not only

private business, but covering all the members of the society. The definition

of the private sector is a helpful step to understand the term and its context.

“Private sector is the part of a country’s economic system that is run by

individuals and companies, rather than the government” (Rouse). Private

sector is managed by individuals and government does not have control over

it. Developing private sector in term of providing more job opportunities in

society and might be a significant improvement to the society. The majority

can benefit from privatization as the job quality improves, mostly employees

receive higher salaries and the job opportunities are more due to the

productivity of the firms and their development. “The private sector employs

more workers than the public sector” (Private Sector). In most countries,

private sector is a major part of national income and effective employers and

job creators; more imposing than public sector for the job creation. More than