The ANCYL believes South Africa’s minerals, water, land and marine resources should be used to maximise growth of South Africa’s economy and not purely for profit (Shivambu, 2010).The mines were nationalised in 1969 and at this time were exporting about 700 000 tonnes of copper per annum.He also believes many jobs will be created once the mines are nationalised.“Zambia nationalised the copper mines, which supplied 90% of its exports, in the early 1970s.“Nationalisation of mines means the democratic government’s ownership and control of Mining activities, including exploration, extraction, production, processing, trading and beneficiation of Mineral Resources in South Africa”(ANCYL, 2010).
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Last but not least a major aspect for implementation of privatisation is political stability.This includes banks, key industries, railroads, toll highways, electricity, schools, hospitals and even fresh water.Idea of competitiveness relate with comparative advantages that is different countries lead each country will capable to acquire other product at al lower resources cost less hours.In addition Protozons argue that ‘SAP structural Adjustment Programme are imposed renegotiating debts, and on condition that the receipts country accepts privatisation, capital market liberalisation, market based pricing and reduction in subsidies for public services such as water, food and utilities’.Furthermore, the eventual goal of neoliberal economic ...
3171 words (7.9 pages)
Ajay 2001 argue that,’ Good governance and accountability and trustworthy and independency of national institutions’ is very crucial condition for growth.Mobility of resources is very crucial in development, investment and services for increasing internationally interconnection and commonly world economy.In addition Protozons argue that ‘SAP structural Adjustment Programme are imposed renegotiating debts, and on condition that the receipts country accepts privatisation, capital market liberalisation, market based pricing and reduction in subsidies for public services such as water, food and utilities’.Idea of competitiveness relate with comparative advantages that is different countries lead each country will capable to acquire other pro...
3109 words (7.8 pages)
During the Apartheid era many enterprises were nationalised, for example ESKOM and the steel industry.Nationalisation is, and will not be feasible, unless strict policies are put into place.He has nationalised telecommunications, electricity, steel companies and a few major oil companies (Ingham, 2009).Furthermore, the South African public is far too intelligent to believe in the promise of the proverbial pot of gold at the end of the rainbow.Resources are scarce, therefore during this time; resources may become depleted, resulting in huge losses for the South African economy.
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The first bank that was fully nationalised in UK is Northern Rock, followed by the Lloyds Banking Group with partial control from the government.As resent investor’s rate increased with great returns there is number of requests to have RBS fully nationalised (Werdigier, 2009).The Telegraph (2009) ‘RBS expects bad loans to mount in 2009′, May 8, [Online].Decisions that were made by RBS and Government were directed to the achievement of more stable bank position and additional resources for strength and further capital enlargement.Some analysts point that as the RBS is not fully nationalised it can still face the risks and fail to satisfy investor’s expectations.
4148 words (10.4 pages)
The Estimates Committee of the Lok Sabha, 71st Report on Customer Services and Security System in Nationalised Banks, The Hindu, April 2, 1989, nationalised banks showed an aggregate net loss of Rs.3,64,292 lakhs and Rs .(June 1995), To achieve the varied objectives of nationalisation, the nationalised banks have introduced innovative schemes in the mobilisation of resources as well as its disbursement .Mobilization of resources forms an integral part of the development process in India.They are thus catalytic agents that create opportunities for the development of the resources to speed up the tempo of economic development.But in recent years , along with many other nationalised banks, there is deceleration in its performance .To obtain...
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On account of the burden of heavy NPA, many nationalised banks have little option and they are unable to lower lending rates competitively, as a wider spread is necessitated to cover cost of NPA in the face of lower income from off balance sheet business yielding non-interest income.Even granting 3% net NPA within limits of tolerance the nationalised banks are holding an uncomfortable burden at 7.1% as at March 2001.This is the margin between the cost of resources employed and the return there from.The statistics above show the other weaknesses of the nationalised banks in addition to the heavy burden they have to bear for servicing NPA by way of provisioning and holding cost as under: i.Nationalised banks have reached a dead-end of the ...
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Rogman, T. 2004, Entry Strategies for Middle Eastern Markets, The World Financial Review.Political instability, high corruption prevalence, and unstable institutions to control and punish organised crimes such as looting organisational financial resources amplify the risks encountered by multinational organisations.2003, ‘Market entry methods for western firms in China, Asia Pacific’, Journal of Marketing and Logistics, vol.15 no.Jeffrey, S. 2004, ‘A Theoretical Perspective on Political Risk’, Journal of International Business Studies, vol.Zaldumbide J., 2007, Nationalisation of the Hydrocarbon Industry in Ecuador, Special Institute: International Mining and Oil & Gas Law, Development, and Investment, Rocky Mineral Law Foundation, Colora...
3154 words (7.9 pages)
Natural monopoly applies to a situation in which the technical requirements of an industry or economies of scale are such that only one supplier may profitably exist (railways lines, water and electricity distribution).Examples include the provision of water, postal services, public transport and basic broadband.In the recent history and the current global financial crisis governments have nationalised banks in the Western world.The rationale for state investment in enterprise arising from externalities needs to be looked in to on a case by case basis.The current inability of some banks in Europe (and the U.S.) to raise finance in capital markets has required the State to take large ownership stakes in the key banks.
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Maximum utilization of resources: All the oil, gases, minerals and other national resources can be utilized maximum in order to achieve economic development.President Morales’s rhetoric is typically more radical than his actions and yet there is no doubt that investment risks have increased under his watch .The re-nationalization of Bolivia’s natural gas resources could have a profound impact upon the long-term development of the energy sector in the Southern Cone.Mismanagement: The controlling authority of the nationalised enterprises may play discrimination and favouritism.Skilled Services: Government may hire the services of talented and skilled persons due to its largest resources.
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In conclusion we can see that nationalization of the mines will not serve to solve any of South Africa’s problems, we rely on it far too much and are in great need of the mines being run effectively because of how much money it brings into the country.Pension’s funds have invested million/billions in this and if the mines were nationalised and run inefficiently those shares will collapse and drop drastically in price and all pensions will be negatively affected, as you can see the mines affects every aspect of our economy.The smooth running of the mines is essential for South Africa’s economy’s survival.In the event that nationalisation took place of these mines and if the share price drops suddenly there would be a calamitous loss of va...
1111 words (2.8 pages)
It was so popular that the Conservatives did not repeal it when they were in power.The successes of the welfare state for me far outnumber the failures.This allowed Britain to remain stable and preserve the great successes of the Labour government and their prime minister Attlee, who is regarded as one of the best prime ministers Britain has had in the 20th century.Britain devoted all its resources to fighting the war.Other nationalised industries were mainly monopolies, and therefore the government was hardly criticised for it.
2702 words (6.8 pages)
In the light of reforms, FEDAI has refocused its role by giving up fixing of rates, but plays a multifarious role covering training of banks’ personnel, accounting standards, evolving risk measurement models like the VaR .In the area of foreign exchange, FEDAI was established in 1958, and banks were required to abide by terms and conditions prescribed by FEDAI for transacting foreign exchange business.The seven banks now forming subsidiaries of SBI were nationalised in the year 1960.Fourteen major banks of the country were nationalised and on April 15, 1980 six more commercial private banks were taken over by the Indian government.Government first implemented the exercise of nationalisation of a significant part of the Indian Banking sys...
4850 words (12.1 pages)
Deregulated the prices of all grades of coal.IBM provides technical consultancy services to the mining industry for the geological appraisal of mineral resources, and the preparation of feasibility reports of mining projects, including beneficiation plants.Coal Mines (Nationalisation) Amendment Act .Allowed private participation in captive coal mining and setting up of washeries.Colliery Control Order .
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Fears of mass aerial bombing led to the creation of the Emergency Medical Service which was a kind of national hospital service.The pay and conditions of the workers in nationalised industries did not improve much.The State had already virtually nationalised key parts of British industry between 1939 and 1945.The war had already prompted increased welfare provision.The mass evacuation of children revealed the extent of deprivation amongst children.
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The next round of nationalisation took place in April 1980.The next major nationalization of banks took place in 1969 when the government of India, under prime minister Indira Gandhi, nationalised an additional 14 major banks.In 1980, after 6 more banks were nationalised, about 10 percent of the bank branches were those of private-sector banks.The objectives behind nationalisation where: * To break the ownership and control of banks by a few business families, * To prevent the concentration of wealth and economic power, * To mobilize savings from masses from all parts of the country, * To cater to the needs of the priority sectors.The total deposits of these banks amounted to around 200 crores.
1697 words (4.2 pages)
What you should know ??Government intervention can limit abuse of power through legislation, regulation, nationalisation and trade liberalisation.E. g. Following the financial crisis of 2008 banks, insurance companies and car manufacturers were nationalised in the USA and UK.Government intervention is common in the case of monopolies, if they abuse of their power and damage consumers’ welfare.?Their power may be abused, damaging consumers’ welfare.
592 words (1.5 pages)
It referred to the “lack of sufficient delegation of authority, inadequate internal control in respect of balancing of books and reconciliation of inter-branch and inter-bank entries.” The committee also suggested that for the banking sector to flourish it is imperative that the banks becomes competitive and innovative.. New sets of skills need to be developed and new areas of expertise need to be identified.Some economists argue that the benefits of the nationalization haven’t still been fully realized.For instance, the Narsimhan Committee in its report in 1991 stated that “Management weaknesses and trade union pressures have seriously undermined the efficiency of banks and financial institutions”.It is the process whereby the means of...
2663 words (6.7 pages)
The concentration of nationalised banks and their efforts to be the policy maker have given rise to three major concerns: Competition, Systemic Stability and difficulty in regulating them (Zuberbühler, 2000).The banking sector comprises of Nationalised, Private and Public Sector, Cooperative and Foreign banks.As for nationalised banks its almost stable and for foreign banks it has declined sharply.According to 2010 survey more than 80% of banks in India are nationalised, 15% are private and cooperative sector banks and the remaining 5% are foreign banks, serving a population of more than 1.1 billion.Zimbabwe does not have legislation compelling companies and businesses to direct their resources towards the environment and corporate socia...
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Size really matters when it comes to economic problems.They could not access their savings because their bank had been nationalised and they were panicking.Yet the Icelandic government was caught in a trap; without a functioning banking system, it knew an economy cannot function and so they were determined to prop up their banks.Iceland’s economy was destroyed during the credit crunch because it ultimately lacked a big enough central bank like the Bank of England or Federal Reserve.In fact, some individual Iceland’s banks were far bigger than Iceland’s economy itself and so could never have been rescued.
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‘New’ Labour has also rejected its former ideology of nationalised industry and public ownership replacing this with a much more free market approach and even privatisation of some former publicly owned services such as the London Underground. John Dearlove and Peter Saunders – Introduction to British Politics 3rd Edition, Polity 2000 p.394  ibid p.397 .‘New’ Labour no longer seeks to nationalise and plan but rather prefers equality of opportunity rather than outcome.Like most political parties, since its inception, Labour has evolved, changing both its organisation and ideology to reflect changes in society and voters needs.Perhaps the most significant change to ‘New’ Labour, the amendment of Clause 4, can be attributed to clas...
2260 words (5.7 pages)
In general I feel that for a consumer’s interest, we need competition within most industries to keep prices down, which unfortunately a monopoly does not provide.Another way in which monopolies may be of an advantage to the consumer is that there will be rationalisation of resources within the industry, this is another way that the company can cut their costs and hence perhaps cut the final cost of the product to the customer.An example of this is British Telecom, before when it was the only telecommunications company; its prices were much too high, once new companies came into the market their prices had to come down due to the price competition that they were now facing.www.economic.co.uk .Principles of Economics; Henderson and Poole.1...
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This essay will measure how precise source C is at interpreting the violence of the location using evidence obtained from looking at other resources.Whether it was a ‘working class conflict in opposition to the establishment’ or an ‘uprising of the unthankful lower classes’, it was a stepping stone in Trade Union movement, however it did not appear so for a while later when Trade Unions lost value and resources.This was not so.Most men got their jobs back but 3000 men endured recrimination from employers and the railwaymen had to accept pay cuts on return to work.At the end of the Strike the T.U.C may have hoped that new and unofficial proposals by Sir Herbert Samuel would permit the miners and mine owners to renew negotiations.
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', Twentieth Century British History, 5 (2) (1994), 183-205 .Taylor, Andrew (2002) “Speaking to Democracy: the Conservative Party and Mass Opinion from the 1920s to the 1950s” S. Ball and I. Holliday (eds) in Mass Conservatism: The Conservatives and the Public since the 1880’s.London: Harper Collins .Ramsden, John (1998), An appetite for power: a history of the Conservative Party since 1830.Turner, John (2003) “ Governors, governance and governed: British Politics Since 1945 in Burk, K (eds) The British Isles Since 1945.
413 words (1.0 pages)
Regardless of political or economic opinion, there’s little argument that the era of privatizing nationalised enterprises in the UK, particularly from the late 1970s through the 1990s, has been one of the most contentious issues in modern economic history."The Man Who Bought Trouble.""The Performance of BAA Before and After Privatisation.THE UK’S PRIVATISATION EXPERIMENT: THE PASSAGE OF TIME PERMITS A SOBER ASSESSMENT."Journal of Transportation Economics and Policy 33 (1998): n. pag.
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They realised they would have had a majority in Parliament without the Liberals in the coalition.Backbench Conservative MPs were particularly upset with continuing the coalition as it meant they had less promotion opportunities as a number of cabinet places had to be filled by Liberal MPs.The press caught hold of these affairs and made it commonly known, much to the Conservatives dismay.While Lloyd George was popular with the public, he was an electoral asset, but as his popularity among the electorate decreased, so did his support from the Conservatives.Bibliography: .
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However, he has determined the cost efficiency of the public sector is less than foreign and private banks, during both pre and post reform period.He has analysis to estimate the efficiency of public, private and foreign banks in the period reform the period and the efficiency of the public, private and foreign in the post reform period.The mean efficiency score of the Indian Public sector have been explained in the following table (Table 1).He has also analysed 27 public sector banks were he found the same result.This type of lending was the most serious barrier for the development of country as a whole .To overcome this issue the Indian Government started a Scheme of Social Control in February 1966 whose main was to assess the demand f...
1362 words (3.4 pages)
The differences between ‘new’ Labour and ‘old’ Labour tend to be defined by vital policy movements.Since 1997, the Bank of England has started setting interest rates; cuts in income tax and have started to refuse to return to the more ‘sharply progressive’ income tax rates of the 1970’s; cuts in some benefits and eagerness to push forward with market reforms of the welfare state.New Labour tends to focus now on improving the delivery of the policies it has already implemented.An emphasis on low inflation, for example, demonstrated the wider role.This includes the abandonment of nationalisation and the recognition of the ‘rolled back’ state, which was inherited from the conservatives.
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Services of National banks are not that good as compared to Private sector banks as private sector banks appoints more efficient people and and they are more computerised banking system savay.After this, until the 1990s, the nationalised banks grew at a pace of around 4%, closer to the average growth rate of the Indian economy.It was the only merger between nationalized banks and resulted in the reduction of the number of nationalised banks from 20 to 19.In privatebank majority of the shares are owned by an a buniness group/public throught the bank’a share shares.The Government of India issued an ordinance (‘Banking Companies (Acquisition and Transfer of Undertakings) Ordinance, 1969’)) and nationalised the 14 largest commercial banks wi...
1853 words (4.6 pages)
Banks have directed to finance on large scale agriculturist, small scale industries, personal financing etc.The main reason behind this is the resources of central govt.The Credit Guarantee Corporation and Deposit Insurance provides guarantee for such loans.To conclude, we can say that bank credit has to act as a major instrument for achieving wider social purpose, national policies and objectives.Twenty odd banks have been nationalised to server the nation.
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