Privatization may be defined as the transfer of the public sector activities and functions to the private sector. This applies to the commercial and industrial enterprises which are often owned, nmanaged and implemented by the public sector which could otherwise be operated by private sector. Privatization is premised in the assumption of the superioroty of market forces over administrative directives in governing economic activity to achieve efficiency.
Malaysia first implemented privatization in 1983 abd the first project being upgraded of a public road into a tolled reoad bypassing the town of Klang. From then the government has extended the privatization projects to cover other sectors.
The objectives are to relieve the financial and administrative burden of the government, to improve efficiency and increase productivity, to facilitate economic growth. to reduce the size and presence of the public sector in economy, to produce more Bumiputera entrepreneur and to help meet national development targets.
Hopefully , these brief idea on the policy will help you all in understand more of our Malaysia's policy.
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