May 17, 2007

Parting Shot

The Telegraph, 17.05.2007

As Dipankar Dasgupta points out in “Road to efficiency” (May 15), the delay in profit, and the consequent lack of incentive, is a major reason behind the inefficiency of state-led projects. But even without State meddling, there could be other problems. For instance, the lack of transparency in the process of issuing tenders despite the matter being handled by private companies. This happens in the other countries too. Take the recent multi-billion pound scandal involving Saudi Arabia’s purchase of Eurofighter jets.

Despite privatization, the State has to employ independent auditors to oversee the bidding process. It should also allow regulators in each industry to function independently. The State cannot absolve itself of its responsibility in infrastructure-building and delivering public services.

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