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Reasons for the establishment of public corporation
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[QUOTE="Holicent, post: 275592, member: 76163"] [FONT=Verdana]The establishment of public corporation was a result of the extensive growth of the economy. The government had to take over this responsibility to manage the public business. The main reason behind establishing public corporations was to provide greater services and improve quality of life for the people. It was also supposed to be part of a reform movement aimed at making government more efficient and accountable. In addition, there were several other reasons that could have led to the establishment of public corporations. To improve productivity through increased efficiency and output; To reduce corruption through increased transparency; To increase transparency by enhancing accountability; To facilitate access to information by making it available on-line; To create jobs for the masses by creating new industries; To reduce crime by improving law enforcement; To promote national unity by providing jobs for locals instead of foreign workers. Public corporations must also fulfill their duties according to law and regulations set by government agencies responsible for regulating those companies.[/FONT] [/QUOTE]
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