Que: What is a public sector organization? What are its aims and objectives?
Public Sector Organization:
A public sector enterprise is owned and managed by the state.
The aim of such enterprises is not to earn profit but to prevent the unbalanced growth of industries and ultimately attain self-reliance.
Such enterprises are accountable for their results to parliament and the state legislature.
Public enterprises are mostly operated in case of public utility services like water supply, electricity, transportation, etc.
Objectives of Public Sector Organization: Equitable distribution of wealth and income by preventing the concentration of economic power in few hands.
Balanced economic development through the dispersal of industrial location. Adequate employment opportunities.
Speedy agricultural and industrial development without the growth of monopolies.
Self-sufficiency of the nation in modern technology and managerial skills so that in due course, the country need not depend on foreign collaboration in capital technology, skill, etc.
To act as a role model for the private sector by avoiding the exploitation of workers and consumers.