The government is planning to privatize additional public sector entities as part of its broader rightsizing policy aimed at streamlining the economy. This move is intended to enhance operational efficiency, reduce fiscal burden, and attract private sector investment in industries that have long been state-controlled.
The rightsizing policy, which has been in development for several years, focuses on reducing the size of public institutions and ensuring that only essential entities remain under state ownership. The government believes that by transitioning some of these bodies into private hands, it can foster greater innovation, improve service delivery, and generate higher revenues. Additionally, privatization is seen as a crucial step in addressing inefficiencies that have plagued many state-owned enterprises, including chronic losses and overstaffing.
According to officials familiar with the plan, industries likely to be affected include power, transport, and finance. The privatization process will involve thorough assessments to ensure transparency and fair market value, with international and local investors being invited to participate in the bidding process. Public-private partnerships (PPPs) are also being explored to maintain a balance between private management and public interest.
Critics of the policy argue that privatization could lead to job losses and decreased government control over essential services. However, supporters believe that the move will strengthen the economy by creating more competitive markets, attracting foreign direct investment, and freeing up government resources for other priority areas, such as education and healthcare.
Overall, the privatization plan under the rightsizing policy is seen as a major step toward economic reform, with the potential to reshape the country’s economic landscape in the coming years.
