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Privatization: Privatization Process
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Ultimately privatization is a political process. As such any move toward privatization, no matter the economic benefits, will have political repercussions especially if privatization causes worker displacement. The burden of privatization falls most heavily on the public workforce. Because their jobs and income are at risk, public employees and their unions strongly oppose privatization. A 1992 survey of the 24 largest American cities showed that the greatest political opposition to privatization came from public employees and the unions representing them. Although it is not unusual for privatization to result in layoffs of public sector employees, seldom do the layoffs reach the level that workers and their unions predict.
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In 1990, the State Property Agency (SPA) was established, and was concerned with the centralized institutional overseeing of the privatization process. Its main concern was the organization and execution of sale of state -owned firms to domestic and foreign buyers. The main problem with the SPA was that it often lacked legal expertise in the negotiation of contracts and ... the interests of the state sometimes collided with those of individual firms. Under the auspices of the SPA, a number of programs were implemented. In brief these programs were;
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With reference to privatization of the process of revenue collection in Bangladesh, privatization has been termed as a fatal remedy. As the revenue department became extremely corrupt, the government of Bangladesh privatized part of collection of customs duties, its major source of revenue, by way of engaging Pre-shipment Inspection agencies for physical examination of the cargo and for determining the assessable value. The policy partly privatized in the Customs department but the in effect, it backfired. The PSI agencies proved to be more corrupt and more venal than the Customs officials. [10].
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In October 1991, the SPA, began to move away from these strict programs and began to adopt a decentralized privatization model. This program relinquished direct control of the privatization process and advisers were hired to oversee the tendering stage through to the settlement stage.
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Japan Post Network Co. is one of four separate postal entities that began operating in October 2007 as a part of the postal privatization process set forth under laws enacted in 2005. Japan Post Network Co. operates approximately 24,000 post office locations throughout Japan.
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Despite the success of these initiatives, the administration has come under fire for failing to approach privatization strategically. Each initiative has been the "flavor of the day," lacking a replicable decision-making matrix, standards, or procedures. No process has been developed for identifying future opportunities or conducting privatization studies.
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Privatization Process