This question perhaps was unpopular with the candidates. Most candidates could not give a clear distinction between commercialization and privatization in the (a) part. The (b) part was even more difficult for the candidates as only a few of them attempted it.
However, candidates were expected to write the following points to score good marks in this question.
(a) Privatization is the transfer of ownership and control of a government owned business to private individuals while commercialization is the efficient running of a government enterprise with the major motive of making profit.
(b) Privatization
- reduces government expenditure
- promotes efficiency in the running of businesses.
- promotes innovation.
- promotes economic development.
- creates avenue for private investment.
- provide government with short term revenue
- reduces the problems of corruption, nepotism, etc. associated with public corporations.
