{"id":144721,"date":"2024-11-10T08:49:57","date_gmt":"2024-11-10T08:49:57","guid":{"rendered":"https:\/\/websitedesigns.com.au\/elankanew\/?p=144721"},"modified":"2024-11-10T08:51:53","modified_gmt":"2024-11-10T08:51:53","slug":"private-ventures-vs-public-ventures-by-oscar-ev-fernando-2","status":"publish","type":"post","link":"https:\/\/websitedesigns.com.au\/elankanew\/private-ventures-vs-public-ventures-by-oscar-ev-fernando-2\/","title":{"rendered":"Private Ventures vs Public \u2018Ventures\u2019 &#8211; By Oscar EV Fernando"},"content":{"rendered":"<h2 style=\"text-align: center;\"><span style=\"color: #333399;\"><strong>Private Ventures vs Public \u2018Ventures\u2019 &#8211; By Oscar EV Fernando<\/strong><\/span><\/h2>\n<p><img loading=\"lazy\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-144722\" src=\"https:\/\/websitedesigns.com.au\/elankanew\/wp-content\/uploads\/2024\/11\/Private-Ventures-vs-Public-\u2018Ventures-By-Oscar-EV-Fernando.png\" alt=\"Private Ventures vs Public \u2018Ventures\u2019 - By Oscar EV Fernando\" width=\"600\" height=\"600\" \/><\/p>\n<div dir=\"ltr\">\n<div dir=\"ltr\">\n<p style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\"><img loading=\"lazy\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-36791 size-thumbnail alignleft\" src=\"https:\/\/websitedesigns.com.au\/elankanew\/wp-content\/uploads\/2019\/07\/Oscar-Fernando-150x150.jpg\" alt=\"Oscar Fernando\" width=\"150\" height=\"150\" \/><\/span><\/p>\n<p class=\"m_-8081249695903791139ydp1465482bmsonormal\" style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">Let us take two cases of projects done in society-service and business; the motive to do a service is not to make profit but to serve people-which in no way means to make wanton losses but to at least breakeven; but is there such an effort made for that in our service projects-no it is not done-revealing why and how our economy reached bankruptcy level.<\/span><\/p>\n<p class=\"m_-8081249695903791139ydp1465482bmsonormal\" style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">This misnomer has played havoc in our country exemplified with just two projects-public transport and telecom; those of a certain vintage would recall how only one or two companies ran on different routes thereby having minimal road accidents and making good profit; it was then nationalized calling itself The Ceylon Transport Board and how the CTB contributed to the recent bankruptcy only the treasury will bear witness!<\/span><\/p>\n<p class=\"m_-8081249695903791139ydp1465482bmsonormal\" style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">The same will hold good for telecommunication that was running at a loss at the time when the Brass Buttoned Black Coat appeared long after reporting a fault; the difference that followed privatizing is to say the least\u00a0miraculous; no wonder all those dignified Boards ran us down to bankruptcy with all the \u2018Kommis\u2019 hidden under that Black Coat!.<\/span><\/p>\n<p class=\"m_-8081249695903791139ydp1465482bmsonormal\" style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">All institutions whether profit based or not are often categorized as Ventures-but are they? To be a venture all employees in the project are expected to be on their toes-daring with heart head and muscle to make profit on the project and all workers whether white collar or labor must dare and do or dare not and be sacked. This is the norm to make profit in a private venture as against a State \u2018venture\u2019<\/span><\/p>\n<p class=\"m_-8081249695903791139ydp1465482bmsonormal\" style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">In the so-called state ventures the daring is seldom needed with work coming their way as a matter of fact with the employees doing their dutiful job to earn a pat on their back from the boss-thus such an institution survives, due to political backing or due to the monopolist nature of its product-such as insurance-electricity or water and these institutions cannot but help making profits or losses.<\/span><\/p>\n<p class=\"m_-8081249695903791139ydp1465482bmsonormal\" style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">Those of a certain vintage will recall how the business of insurance was carried out when it was in private hands-employees would be on toes visiting consumer homes with the promise of a better service than the other; All this was contributing more to add value to the product and an overall contribution to the GDP.<\/span><\/p>\n<p class=\"m_-8081249695903791139ydp1465482bmsonormal\" style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">Other examples to quote would be petroleum-electricity-water and public transport-all of which instead of contributing to profit of the venture and contributing to the GDP, pulled the country to bankruptcy!<\/span><\/p>\n<p class=\"m_-8081249695903791139ydp1465482bmsonormal\" style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">If the public transport system-which during the good old days were in private hands continued, we would not have witnessed these frequent road accidents as each competing company would have been allocated separate routes to run with promising ease. So also, the case of insurance obviously making profit while seats are being warmed by employees with business falling on their laps and thus making profits due to the monopolistic nature of the product!\u00a0<\/span><\/p>\n<p class=\"m_-8081249695903791139ydp1465482bmsonormal\" style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">The mixture of private public; \u201cventures\u201d-is a concoction of a sort being a haven for the so-called Komis Kakas making hay while the sun shines-thus contributing to the bankruptcy of our economy: if we think beyond the surface, it is a clash of two opinions that have dominated the world-communism in China and Russia and capitalism-in US and several other countries.<\/span><\/p>\n<p class=\"m_-8081249695903791139ydp1465482bmsonormal\" style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">Most readers would know that both Russia and China are distancing away from communism-whilst we in Sri Lanka are still on the dose of that concoction-detrimental to the economy.<\/span><\/p>\n<p class=\"m_-8081249695903791139ydp1465482bmsonormal\" style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">A lesser dose of that concoction in a mild form is now in vogue and is referred to as PPP-Private Public Partnership and this is worthy of attention by powers that be, in the context of the two extremes facing a get together and that for the betterment of our country!<\/span><\/p>\n<p>&nbsp;<\/p>\n<p class=\"m_-8081249695903791139ydp1465482bmsonormal\" style=\"text-align: justify;\"><strong><span style=\"font-size: 16px; color: #000000;\">Oscar EV Fernando<\/span><\/strong><\/p>\n<p class=\"m_-8081249695903791139ydp1465482bmsonormal\" style=\"text-align: justify;\"><strong><span style=\"font-size: 16px; color: #000000;\">November 2024<\/span><\/strong><\/p>\n<\/div>\n<\/div>\n<p>&nbsp;<\/p>\n<div style=\"text-align: center;\"><span style=\"font-size: 16px; color: #800000;\"><em><span style=\"text-decoration: underline;\"><a style=\"color: #800000;\" href=\"https:\/\/websitedesigns.com.au\/elankanew\/elanka-newsletter-sign-up\/\" target=\"_blank\" rel=\"noopener\"><strong>Click here to receive your free copy of the eLanka Newsletter twice a week delivered directly\u00a0to\u00a0your\u00a0inbox!<\/strong><\/a><\/span><\/em><\/span><\/div>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Private Ventures vs Public \u2018Ventures\u2019 &#8211; By Oscar EV Fernando Let us take two cases of projects done in society-service and business; the motive to do a service is not to make profit but to serve people-which in no way means to make wanton losses but to at least breakeven; but is there such an [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":144722,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"aside","meta":{"footnotes":""},"categories":[20,4522],"tags":[72985,72984],"class_list":{"0":"post-144721","1":"post","2":"type-post","3":"status-publish","4":"format-aside","5":"has-post-thumbnail","7":"category-articles","8":"category-oscar-fernando","9":"tag-oscar-ev-fernando","10":"tag-private-ventures-vs-public-ventures","11":"post_format-post-format-aside"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.7.1 (Yoast SEO v25.9) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Private Ventures vs Public \u2018Ventures\u2019 - By Oscar EV Fernando - eLanka<\/title>\n<meta name=\"description\" content=\"Private Ventures vs Public \u2018Ventures\u2019 - By Oscar EV Fernando Let us take two cases of projects done in society-service and business; 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