The economic policy of privatization came up as a result of the poor performance of

The economic policy of privatization came up as a result of the poor performance of public enterprises. Public enterprises are companies or organizations that are owned and operated by the government. In some cases, these enterprises were established to provide essential goods and services to the public, such as transportation or healthcare. However, over time, many public enterprises became inefficient and unprofitable, resulting in a strain on government resources and a decline in the quality of the goods and services they provided. Privatization is the process of transferring ownership and control of a public enterprise to private ownership, usually through the sale of shares to individuals or private companies. This policy was developed as a response to the poor performance of public enterprises, with the belief that private ownership and management would lead to increased efficiency, innovation, and profitability. Therefore, the poor performance of public enterprises is what led to the economic policy of privatization.