KARACHI:
There has been a growth in the privatisation of various companies and sectors. While advocates highlight the potential for increased efficiency and cost-effectiveness, the consequences of this movement can have far-reaching negative impacts on society. One primary concern is the potential sacrifice of public interest at the altar of profit. Privatisation often prioritises monetary gains over serving the needs of the community.
Vital services such as healthcare, education and infrastructure should be accessible to everyone and not just those who can afford them. The accountability and transparency that come with public ownership are often compromised in privatised entities. The pursuit of profit-driven motives might result in cutting corners and compromising quality and safety standards. Privatisation can exacerbate socioeconomic disparities. Essential services become commodities widening the gap between the affluent who can access premium services and the marginalised who are left with substandard options if any at all.
The privatisation of critical infrastructure also raises concerns about national security and control. Entrusting essential sectors to private entities, driven solely by profit motives, can pose risks to a nation’s sovereignty and stability. As a society, we must reconsider the implications of privatisation. We should strive for a balance that prioritises the public good while recognising the importance of efficiency. We must safeguard essential services and infrastructure for the collective benefit of all members of society.
Ishrat Fatima
Islamabad
Published in The Express Tribune, December 29th, 2023.
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