For example, the information reporting requirements for firms listed on the stock exchange are far greater than those imposed by government on government business enterprises. We got an insight into who the real owners of ANL are when the Keating Government tried to privatise it. But, then. we are only the pretend owners. Unlike private sector owners, the employees of ANL are not liable for the capital they waste. But, then, they have the right incentives to be.
Society is better off with real owners of resources, rather than pretend owners.
Which is why, privatisation ought to be, and is, a strong global trend.