Reasons for and Functions of Public Corporations
Reasons for Establishing Public Corporations
- To provide essential services at low costs.
- To establish corporations that require enormous capital which an individual might not be able to afford.
- To avoid duplication of services.
- For price control and consumer protection.
- To prevent unhealthy competition.
Functions of Public Corporations and Parastatals
- Generation of revenue for the government.
- Economic growth and development.
- Production and provision of essential services to the citizens.
- Provision of employment and job opportunities.
- Prevention of exploitation.
[Attributions and Licenses]