Privatisation, Competition and Regulation in The United Kingdom: Case Studies

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The UK experience of Privatisation has, in many ways, been unique not only in its scope and extent but also for the various modalities of privatisation tried out with various degrees of success. But above all, the UK experience is unparalleled because it is the only country to have adopted a conscious policy of spreading the benefit of privatisation among the public at large and enforced competition and regulation in a pre-determined way, so that benefits were maximised. The privatisation process was usually preceded by restructuring the public enterprise aimed at converting it into one which would invite investment–this included splitting up the enterprises functionally to avoid privatisation of public monopolistic organisations and creation of competition, so that the enterprises could achieve desired economic efficiency and benefit the consumers. However, where enterprises were privatised in their entirety, regulation served as surrogate competition to achieve the same objective. The UK experiment has proved that these methodologies have succeeded in benefiting the Government, the consumers and the companies privatised. Government benefited from constraints on public sector borrowings on the one hand and earned substantial revenue from sale of its shares in public sector enterprises; consumers benefited from lower prices and better services and companies benefited from lower costs, more efficient means of production and meaningful autonomy to conduct their affairs. This is the reason why the UK experience serves as a model for countries wishing to privatise their public sector undertakings not only for the benefit of their Governments but for their citizens.

ABOUT THE AUTHOR G. Ganesh

G. Ganesh (b. 1943) is a senior officer in the Indian Administrative Services who has served the State of Uttar Pradesh and the Government of India for more than 30 years in various important capacities. Having been born in Chennai and educated at University of Madras and Delhi, he joined the Indian Administrative Services in 1967. He has been collector and District Magistrate in four districts in Uttar Pradesh, besides working as Principal Secretary of various departments in the State Secretariat. At the Centre, he has served in the Ministries of Home and Economic Affairs. Currently, he is Member Secretary of the Public Sector Disinvestment Commission at the Centre. Mr. Ganesh has traveled widely and has a number of study reports and publications to his credit. He retains a keen interest in the privatisation and liberalization processes currently being carried out in India and the rest of the World.

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Bibliographic information

Title
Privatisation, Competition and Regulation in The United Kingdom: Case Studies
Author
Edition
1st ed.
Publisher
ISBN
817099716X
Length
380p., Tables; References; Bibliography; Index; 22cm.
Subjects