Is the 2013 Price Control Regulation Necessary?

Author(s):  
Ajay Bhaskarabhatla
Author(s):  
Luis Correia da Silva ◽  
Paul Dudley ◽  
Leonardo Mautino ◽  
Sophie Richard

2005 ◽  
Vol 50 (01) ◽  
pp. 69-92
Author(s):  
MOAZZEM HOSSAIN

Privatization of public utilities in the United Kingdom has been the key vehicle for attaining further improvement in living standards since the mid-1980s. The United Kingdom was the first of the developed nations to privatize public utilities in 1984 when it sold British Telecom (BT). In subsequent years, almost all developed and developing nations followed suit. Simultaneously, the UK's privatization initiatives established independent regulatory agencies to oversee the performance of the newly privatized natural monopolies to protect all the parties (consumers, operators and government) from any adverse consequences of privatization. Most importantly, the regulators oversee and manage the affects of privatization on price increases. This paper investigates the price control regulation of privatized utilities in the UK with a view to gaining further lessons from these experiences for the developing Asian nations where privatization of utilities is currently being seriously considered for adoption. The lessons are investigated from the economic viewpoints.


1988 ◽  
Vol 20 (10) ◽  
pp. 57-62
Author(s):  
A. N. Aggarwal ◽  
V. K. Karia

Immediately after independence in 1946, the Government of India resorted to rapid industrialization to minimize outside dependence and to improve the standard of living. This, while helping the country to grow, also created problems of environmental management. Rapid deterioration of natural resources forced the Government to enact a number of legislative measures and create regulatory agencies both at central and state government levels. These agencies were given powers to effectively implement various Acts. Severe penalties, including fines and imprisonment, were envisaged for offenders of environmental Acts. Responsibilities were defined, to avoid a scapegoat approach. On the other hand, to reward industries showing a positive approach to environmental protection, a number of fiscal incentives and tax benefits were also offered. Recently, to provide more comprehensive legislation for the protection of all the components of the environment under a single agency, a new bill entitled the ‘Environmental Protection Bill, 1986' has been introduced in Parliament. This regulatory approach has started to show results, and more and more industries have started to provide pollution control facilities.


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