Privatization will lead to less corruption
Privatization is transmitting of ownership from the public sector to the private sector.
Corruption could be in any form and any field whether it is related to money, politics, and medicine.For
- People out of fear of being noticed very fast may be less corrupt.
- It reduces prices of goods and has less interference of government.
- There is a close relation between employees and managers. They both work together in order to maximize profits in the correct way. Certainly, if there are profits, corruption will be less.
- Salaries of people are high as compared to government sector. People are constantly motivated. This reduces the changes of bribes etc.
- Privatization gives more liberty to people.
- Privatization will introduce more risk. More risk means people to save their assets will certainly get into corruption by any means.
- Privatization may lead to monopoly. People are free to make any sort of “Adjustments”.
- Corruption as a matter of fact has got nothing to do with public or private sector. It entirely depends on the people.
- Privatizing a sector is not the solution. People are corrupt in almost all hierarchies.
Corruption in itself is bad and not acceptable from any sector and any form. Biggest examples would be Satyam. The government should not just take strict action against corruption but also try and speculate over means to avoid it.