...It will be analyzed to compare the performance of public and private sector organization in Pakistan. Keywords: Privatization, profitability, output, efficiency and employment Introduction Despite frequent changes in the governments since 1985, five regularly elected and six care takers, there has been consensus on the continuation of privatization policy and as such it is expected to be cornerstone of all the future government policies, at least in the near future. Instead of arguing the merits or demerits of the privatization policy, we explore its impact on the levels of efficiency. A large number of public sector units have already been divested and a number of other public enterprises including telecommunications and thermal power stations have been placed on the privatization list. Nevertheless, serious doubts have been expressed about transparency of the bidding process and the impact of privatization on efficiency, investment, production, prices, employment and fiscal deficit. Accordingly, there is a need to identify constraints in realizing various objectives of privatization with a view to suggesting concrete policy measures that may be taken to overcome the constrain and to improve the performance of the organization. Divestiture of assets is not new to Pakistan though the motivation for divestiture has not been the same in different time periods. During the 50s and the 60s, public sector used to invest in non-traditional activities especially...
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...bodies. In public sector, the increment in frauds, money laundering, corruptions, illegal or unethical acts and other wrongdoings are the main factors to support the needs of forensic accounting skills in public sector working environment especially in public sector accountants. The need for forensic accountant has been ascribed to the fact that the audit system in an organization had failed to detect certain errors in the system.Demand for Forensic Accountants (FAs) is growing fast because of the use of information technology to commit crimes, growing corruption, and harsh economic times that are making some workers to steal from their employers or assets of organization. In more recent years, Accountants (FAs)who worked in public practice were often called after owners suspected that fraud had been committed.This research is to study the needs of good forensic skills in public sector working environment especially within public sector accountant. | Problem Statement | The public sector constitutes the largest sector of the economy of any nation, It employs the largest population of the labor force and controls the bulk of financial resources of any country. It therefore calls for a proper financial resources management to ensure proper use of public funds.However, in public sector in Pakistan, there has been public chaos on the way financial resources have been managed by the public servants. The dimension of public corruption in Pakistan is very...
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...An investigation of conflict management in public and private sector universities Siraj ud Din1 *, Bakhtiar Khan1 , Rashid Rehman1 and Zainab Bibi2 1 Department of Business Administration, Gomal University, D.I.Khan, Khyber Pakhtunkhwa, Pakistan. 2 Institute of Management Sciences, University of Baluchistan, Quetta, Pakistan. Accepted 27 May, 2011 The purpose of this paper is to gain an insight into the conflict management in public and private sector universities in Khyber Pakhtunkhwa, Pakistan. To achieve the earlier mentioned purpose, survey method was used with the help of questionnaire. In this research, impact of university type (public and private sector) was examined on the conflict management strategies of the teachers in higher education. Moreover, a systematic approach was adopted to discover existence of conflict, its intensity, types and sources in these two types of universities. Results indicate that conflict was intense in the public sector universities; interpersonal conflict was more prevalent in public sector while task conflict was high in the private sector universities. Findings indicated that faculty in both types of universities used integrating, compromising and avoiding styles simultaneously in case of conflict. There was no significant difference in the conflict management strategies of both types of universities. Finally, it was revealed that there was no formal system in both types of universities to manage conflict. Key words: Conflict...
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...Industries Corporation (BSCIC) is a prime government organization entrusted for rapid industrialization of small and cottage Industries in the country. Under the direct or indirect initiative of BSCIC a plenty of entrepreneurs has been created and enterprises has been set up in the country. But the influence of globalization and the free economy impacts upon the traditional manufacturing enterprises. This situation for marketing of small and cottage industries products is a major constraints facing by the sector. BSCIC is to provide facilities to the existing and new entrepreneurs to expand and develop their markets and to stay and sustain in the competitive environment. Introduction Bangladesh Small & Cottage Industries Corporation (BSCIC) was established in 1957 by an Act of Parliament. The establishment of BSCIC was in recognition of the need for a specialised agency to promote the development of Small, Medium & Cottage Industries (SMCIs) in the manufacturing sector through the provision of advisory services, fiscal and financial assistance, infrastructural facilities, market access and other support programme. BSCIC strives to create resilient and efficient SMCIs, able to compete in a liberalised market environment. SMCIs have to be efficient and knowledge-driven, including using ICT to be globally ‘connected’ and accessible. The Corporation will promote SMCIs to be an integral part of the country’s industrial development capable of producing high value-added manufacturing...
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...Institutional Financing of SME in Bangladesh [pic] [pic] TERM PAPER ON Institutional Financing of SME in Bangladesh Submitted By: ID- Program- BBA Premier University, Chittagong Submitted in partial fulfillment of the requirements for the Bachelor of Business Administration. Submitted To: Ms. Nilufar Sultana Lecturer, Dept. of Finance & Banking, Faculty of Business Studies, Premier University, Chittagong. DATE OF SUBMISSION: /09/2012 Letter of Transmittal Date: To Ms. Nilufar Sultana Faculty of Business Studies Premier University, Chittagong Sub: Letter of Transmitter on Term Paper Dear Madam, This is my pleasure to submit my term paper report on “Institutional financing of SME in Bangladesh” which I was assigned. It was a great opportunity for me to acquire knowledge and experience in respect of the functions, procedures and operational activity, other than my topic of study. I have concentrated my best efforts to achieve the objectives of the assignment study and hope my endeavor will serve the purpose. However, I will always be ready to provide any further clarification that you may require. Sincerely Yours, ID# Program: BBA Batch Number: 16 8th Semester Section: Major:...
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...………………………. 1 I.1. Geographical Location ………………………. 2 I.2. Structure of GDP ………………………. 3 I.3. Economic policies ………………………. 4 A. Trade policy ………………………. 5 B. Industrial Policy ………………………. 6 C. Foreign Direct Investment Regime ………………………. 7 D. Privatization Policy ………………………. 8 E. Government Procurement Policy ………………………. 9 F. Labour Policy ………………………. 10 G. Competition Policy ………………………. 11 CHAPTER II NATURE OF MARKET/COMPETITION ………………………. 12 II.1 Agriculture ………………………. 13 II.2. Manufacturing ………………………. 14 II.2.1 Pharmaceutical Sector ………………………. 15 II.2.2 Toiletries Sector ………………………. 16 II.2.3 Tobacco Sector ………………………. 17 II.3 Financial Services ………………………. 18 II.4 Power ………………………. 19 II.5 Telecommunications ………………………. 20 II.6 Transportation ………………………. 21 II.7 Health Services ………………………. 22 CHAPTER III SECTORAL POLICIES ………………………. 23 III.1 Financial Services ………………………. 24 III.2 Power ………………………. 25 III.3 Telecommunications ………………………. 26 III.4 Transportation ………………………. 27 III.5 Observations ………………………. 28 CHAPTER IV CONSUMER POLICY ………………………. 29 CHAPTER V ANTI-COMPETITIVE PRACTICES PREVAILING IN BANGLADESH …………….. 30 CHAPTER VI PERSPECTIVES ON COMPETITION POLICY ………………………...
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...Background Paper submitted to the Committee on India: Vision 2020 Telecom Sector in India: Vision 2020 Manas Bhattacharya*, IES (Deputy Director General (Finance), Department of Telecommunications, Ministry of Communications & IT, Government of India) The views exposed in this paper are that of the authors not of the Planning Commission Telecom Sector in India: Vision 2020 by Manas Bhattacharya*, IES (Deputy Director General (Finance), Department of Telecommunications, Ministry of Communications & IT, Government of India) Introduction The purpose of this paper is to construct a vision of Indian telecom sector for the year 2020, i.e., about two decades from now. Development being a continuous process, the choice of the year 2020 is just an arbitrary division of time, a pre-defined time horizon to take stock of what is likely to be achieved. Pre-portrayal of a stage of development in future requires understanding of the process of change, the dynamics that set law of motion. In attempting to do so, the present paper deciphers the recent past. Process of change is often volatile and responsive to intervention and global circumstances impacting it. In such an inherently dynamic situation it is convenient to assume that cross-country experiences incubate the most recent seeds of change. This is because countries at various stages of development encapsulate developmental experiences that occur with the passage of time. The present paper isolates...
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...Thoughts on Economics Vol. 20, No. 02 Privatization in Bangladesh: Problems and Prospects Muhammad Ruhul Amin( Showkat Ara Khanam(( Abstract: Privatization has been advocated in the development literatures as the gateway of the growth and development of the countries all around the world. Despite the phenomenal expansion of privatization programs, the results differed from country to country. Some could achieve the desired goals and some failed enormously. However, the World Bank and the IMF continued their campaign of privatization for less developed countries (LDCs) including Bangladesh to stimulate their growth and development. Some LDCs have adopted privatization programs of their own volition. The central theme of this paper is to examine the implications of privatization for the overall development of Bangladesh. The paper raises a number of issues in this regard. The issues involve meaning, significance, approaches, strategies and effectiveness of privatization. While seeking solutions to these issues, the problems inherent in policy formulation and its implementation strategies have been clearly spelled out in the paper. The authors suggest that in order to make privatization efforts a success, an indigenously designed pragmatic policy needs to be undertaken. They warn that the policy prescriptions of external sources including donor agencies, pressure groups and political lobbyists should be handled with great care and caution. 1. Introduction ...
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...Prior to 1988 there was virtually no private sector in Russia or throughout the former Soviet Union. To take part in all but the most basic private sector activities was illegal. All productive assets, including land, industrial enterprises, homes and farms were in theory owned by “the people” (Leonard, Watson, 2013). This statement essentially sums up how privatized firms would be met if de-privatization becomes law. Their investment firms would become illegal and they would have to explore other ways to work within the law or dissolve. If we explore free markets they would be Pareto efficient and would favor the young. However, it would hurt the politically charged groups from the old regime like government officials. (Brickley, Smith, Zimmerman, 2009). Mass privatization was an excellent solution to the problem that state ownership was omnipresent and domestic wealth holders were insufficient to buy the assets. The mass privatization strategy also facilitated an extremely speedy ownership change in most transition economies, as few countries had contained a private sector of any significance in 1990 (Leonard, Watson, 2013). This information makes de-privatization favorable in my opinion. While privatization seems excellent, it stifles future growth and limits opportunities for all. The process to transition should be gradual and well thought out. Privatized companies run a large risk of losing their business if a violation is made. Politicians and Soviet era managers...
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...PUBLIC SECTOR ACCOUNTING AND FINANCE 1.0. Introduction: One of the main distinguishing factors between public and private sector organisations lies in their objectives and sometimes funding structure. While public sector bodies have a more social objective and focus more on the allocation or distribution of public goods and services within the country, private sector bodies have the main objective of increasing the wealth of their shareholders (IFAC, 2011). However, both private and public sector bodies face similar operational and business challenges brought on by the economic environment and climate. A crucial question therefore is how to account for the activities of private sector bodies and public sector bodies in a way that reflects the operational structure of the organisation and yet their varying objectives (Barton, 2000). There exist two main schools of thought on the nature of accounting in the public sector, each of which is formulated by the view of the role of the public sector within the economy (Evans, 1995). The traditional method of accounting within public sector organisations has often advocated the use of the cash basis of accounting, with larger emphasis rather placed on compliance with the rules and regulations governing the sector (Wynne, 2003). However, weaknesses in public sector management have brought to the fore the importance of efficiency and hence the adoption of the accrual method of accounting within the public sector. According to...
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...Tamnun E Mursalin "Digital Bangladesh" is currently the most commonly used words in politics, media, among the intellectuals and the civil societies. Since our Prime Minister Sheikh Hasina in her party's election manifesto pledged to develop a digital Bangladesh by 2021, it has given a great hope to the citizens of Bangladesh. It turned out to be an opportunity for our prime minister to be in the United States during the time of election, and experiencing the Obama election campaign. Her learning has helped Awami League wining the election in Bangladesh in 2008 with Obama-like campaign strategy-the call for 'change', which has been responded widely by the Bangladeshi citizens. However, the focus here is Digital Bangladesh, widely accepted by Bangladeshi people from all walks of life. Not too many people understood the concept of digital Bangladesh but they believed it, as something related to information technology. It has been widely accepted by a good number of young voters, believing that the concept of Digital Bangladesh will solve most of our national crisis involving corruption, unemployment, illiteracy, poverty and price-hike. Even though without knowing Bangladesh has already gone through a bit of experience on digitization through few national level of ICT projects, such as, Chittagong Customs Automation System, selection process of teletalk mobile user through internet, project initiated by the pervious government on machine-readable digital passport system and finally...
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...experience in accounting , management and auditing gained from : • Post conflict and conflict geographical locations in Burundi ( specifically Ngozi, Sudan, Uganda : • Environmental disasters in Tanzania; Mozambique and Kenya • HIV affected and infected communities in Botswana and The Zambia • Donor-funded projects, financial institutions and Government organizations. I have been involved in Financial management and management audits of various organizations. This include Project Planning and Management, development of Accounting Systems and internal control systems, Budget Management on Donor funded Non-Governmental Organizations, Project Management, Finance and Management Accounting and Staff Performance appraisal, both private and public sector Organizations. Currently am managing the Regional Finance and Administration as supervisor in the East and Southern Africa Region and I have been responsible for coming up with policies and procedures that are in line with the organizations’ long term strategies. This involved review of existing structures, and Advising management on possible implementation procedures and processes and the costs/benefits associated with them. I have therefore had to work with consultants and different authorities in order to accomplish these goals. The job is based in Uganda but I receive reports from all the above mentioned countries through email on a monthly basis by the 5th of every month, import into ACCPAC and send the consolidated report...
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...pay performance is attractive to the public sector because its basis is rooted in the perception that superior performance should be acknowledged and rewarded. Its implementation is varied, consisting of individuals, work groups, or departments being evaluated and having financial incentives distributed as base pay increases, one-time bonuses, or a combination. “Merit pay” is a term typically associated with pay for performance where individual performance ratings are directly correlated to annual salary increases in hopes that the incentive with increase employee effort and productivity. However, the critical component that directly affects success with this pay structure is employee perception on how equitable and attainable the expectations are within the incentive plan. Employees form beliefs and take actions based on how satisfied they are with their jobs as well as an opinion about state agencies as places to work and pursue careers. If these employees feel that the performance appraisal systems are not fair, then they will not be motivated by the premise of linking their pay to incentives. Moreover, these same employees will eventually become disgruntle and work at less productive rates because they feel as though “politics” or favoritism determines the outcome of their evaluations not personal achievement. Many employees were attracted to public sector jobs because of they were perceived to be secure with good benefits. Now, public agencies are moving from the traditional...
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...(540MW), Talwandi Sabo(1980 MW), Rajpura (1400 MW)and with NTPC (2640 MW with PSPCL share of 1320 MW). So the total installed capacity in the state by the end of 2014-15 is expected to be 9118 MW. In addition, has signed MOUs with private companies for setting up thermal plants in the state of more than 5000 MW capacity. In addition, presently P has allocation of 1840 MW from central sector plants which is expected to cross 470 MW in the next 5 years. As there is no difference between the powers contracted on long term basis with plants set up outside the state either by central sector or private sector companies and the PPAs signed for procurement of power with private companies setting up plants in the state so mission appears to have been secured well before 2015 without investing even a penny in any project. The question is what will be doing in the next 5 years whereas generation is concerned? In the past, the management of repeatedly argued in favour of setting up plants under state sector and has mentioned it many a times that "setting up of thermal plants in the state sector is in the interest of the state" but surprisingly this commitment has not been explicitly depicted in the draft vision statement which is not only shocking but depressing for the engineers. We would like to know the vision of the company to expand its generation business by setting up new plants with own resources and also up-gradation of the capacities of the existing plants. We will like...
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...PUBLIC SECTOR ACCOUNTING Assignment 5 ------------------------------------------------- Melina Subastian / 296511 Number 3: Based on five public sector accounting techniques, which one do you prefer as the best to be applied? Explain your answer! First of all, I think it is necessary to observe the five techniques that can be applied in public sector accounting in order to decide which one is the best to be applied. 1. Budget Accounting. This technique presents the budgeted amount and the actual amount recorded in pairs (double entry). 2. Commitment Accounting. This accounting technique recognizes transactions and records them at the time the order was issued. This can be used in conjunction with cash accounting and accrual accounting. 3. Fund Accounting. The technique is performed with the concept of fund. It treats a working unit as an accounting entity and budget entity which stands alone. 4. Cash Accounting. In this technique, revenues are recorded when cash is received, and expenses are recorded when cash is removed. 5. Accrual Accounting. This technique differentiates between cash revenues and rights to earn cash, and cash expenditures and obligations to pay cash. In my opinion, accrual accounting technique is the best technique to use for public sector organizations. In this technique, revenues and expenses are recognized when earned or incurred, regardless of whether cash is received or spent. The use of the accrual basis in the public sector is one...
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