Ills of Privatisation in Oil Sector

Privatisation is good! For whom? For me, for one, if I get a job there because I will get more salary. I am not afraid to work. I am working in my PSU also today, I can work more if required, given the right environment which also incudes a high pay.

And Privatisation if good for who else? Well this is a question which we will slowly answer. But in the meantime there is one more question.

What are the ills of Privatisation?
This question came to my mind from this news item (http://www.indianpetro.com/ Indian Petro Daily Bulletin- Feb. 02):-

Feb 1: The issue of non availability of data, related to the petroleum industry, for statistical purposes came to the fore during the first meeting of the Standing Committee on Infrastructure Statistics held recently. Petroleum and natural gas as well as coal found place in the list of energy infrastructure items considered for collection of exhaustive statistical data, which also included electricity and new & renewable energy sources.

In response to the suggestion that with privatisation, data collection had become more difficult, representative of the petroleum ministry present at the meeting mentioned that company wise and component wise financial data for the petroleum sector was not available easily.