Employees always live under the fear that they can be fired anytime. They have no security to the tenure of job. Moreover, with the recent privatization policy, employees are having a lot of uncertainties going into their minds.
Monday, March 8, 2010
Expenditure of PSDP
PSDP stands for Public Sector Development Program. Under this program, government allocates about 20% to 25% of the budget to PSDP for improving infrastructure, rural development, more health facilities etc.
Foster Competition
Privatization is undertaken with an objective to increase competition by giving private sector an equal opportunity to compete with due the public sector. This will reduce the monopoly power that rests with public sector units.
Increase in Oil Prices
The recent oil shock which saw oil prices touching $70 per barrel has put a huge pressure on the imports. The value of imports has rapidly increased due to increase in oil prices. This has created adverse balance of payment situation for the country.
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