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Reasons for and Functions of Public Corporations

Reasons for Establishing Public Corporations

  1. To provide essential services at low costs.
  2. To establish corporations that require enormous capital which an individual might not be able to afford.
  3. To avoid duplication of services.
  4. For price control and consumer protection.
  5. To prevent unhealthy competition.

Functions of Public Corporations and Parastatals

  1. Generation of revenue for the government.
  2. Economic growth and development.
  3. Production and provision of essential services to the citizens.
  4. Provision of employment and job opportunities.
  5. Prevention of exploitation.

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