The Private and Public Sector
The basis of the establishment or incorporation of enterprises in the public and private sectors is to produce and distribute goods and/or services to members of the general public. However, the rules by which these are governed make them distinguishable. While similarities can be seen between businesses in these two sectors, the contrasting objectives, policies and procedures aptly identifies the respective sect. The following further illustrates the similarities and disparity of the two sectors.
The Public Sector
First there are the organizations controlled by the government; these organizations make up what is called the “public sector” and which are run for the benefit of the population as a whole, e.g. a national health service or to provide security for the nation and its citizens, like the police force or the armed forces. Some public sector enterprises are set up by the state to provide services which might not have existed previously. Other public sector enterprises might be established to take over, for a variety of reasons, by a process called nationalization, a number of existing similar organizations and to combine them under one “central authority.” Essentially, the public sector is the part of the national economy providing basic goods or services that are either not, or cannot be, provided by the private sector. It consists of national and local governments, their agencies, and their chartered bodies.
Examples of public sector organizations:
• Telecommunications Services of Trinidad and Tobago Limited (TSTT) • Trinidad and Tobago Electricity Commission (T&TEC)
• Water and Sewerage Authority (WASA)
Local Authority Services
• Education & Recreation
• Public Housing
• Environment & Conservation
• Protection i.e. Police
• Social Services
Central Government Departments
Public Sector Organizational Chart...