Lose control

It has been reported that the central government may consider creating a holding company for its largest public sector enterprises, and that this company will own them on the state’s behalf. That the Centre accepts that the public sector continues to suffer from interference is welcome, as are continuing efforts to solve the problem. However, there are reasons why this latest plan should be viewed with some scepticism. It is not that the structure of the plan itself is unsound; it’s just that the history of government control of the public sector should show that even more drastic measures are necessary.

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