State and explain FIVE reasons why industries are nationalized/owned publicly. – NABTEB QUESTION

(i) Essential services: For the provision of essential services which is vital to the citizens.

(ii) Monitoring of industries: To avoid wastage and duplication of industries between state and private sector.

(iii) Huge capital needed: It is only the government that can judiciously provide capital needed/required for execution.

(iv) Even development: To encourage even development and equitable distribution of the country’s wealth or natural resources without partiality or political motive.

(v) Safety/security of national development: For the purpose of national security for the entire nation without discrimination.