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The National Pension Service will split its investment committees into public and private asset groups, aiming to boost expertise and efficiency in managing its 1,300 trillion won ($980 billion) fund, following global best practices.
#YonhapInfomax #NationalPensionService #InvestmentCommittee #PublicAssets #PrivateAssets #1300TrillionWon #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket
https://en.infomaxai.com/news/articleView.html?idxno=89507

Chính phủ xem xét dự thảo báo cáo về quản lý tài sản công và trụ sở sau khi sắp xếp lại tổ chức chính quyền địa phương.

#chinhphu #taisancong #tochucchinhquyen #goverment #publicassets #localgoverment

https://vtcnews.vn/chinh-phu-cho-y-kien-ve-du-thao-bao-cao-ve-quan-ly-tai-san-cong-sau-sap-xep-ar961387.html

There are a few notable examples in Australia where public hospitals have been privatised or handed over to private operators after significant public investment. These deals often raise concerns about whether the public is getting fair value, given that millions of taxpayer dollars were spent on their construction or maintenance before being transferred for minimal costs. Some examples include:

1. LaTrobe Regional Hospital (Victoria): In the 1990s, LaTrobe Hospital was privatised as part of Victoria’s push towards privatisation under the Kennett government. The hospital was later returned to public management after the private operator faced financial difficulties, leading to criticism that privatisation resulted in poor outcomes without cost savings.

2. Port Macquarie Base Hospital (NSW): This is one of the most infamous examples. In the mid-1990s, the NSW government spent around $60 million of public money to build the hospital, then sold it to a private operator for just $1. This was highly controversial because taxpayers essentially paid to build the facility, and then it was handed over at a nominal cost to a private company. Years later, after public dissatisfaction with the private management, the government bought the hospital back, spending even more public funds to do so.

3. Royal North Shore Hospital (NSW): While this hospital wasn’t sold outright, in 2007, the New South Wales government entered into a public-private partnership (PPP) for the redevelopment of Royal North Shore Hospital. The project led to concerns that public money was used to fund expensive private contracts, with the risk of long-term financial strain on the public sector.

These examples highlight the issue of public assets being sold or leased to private companies at minimal cost, often after significant public investment, leading to public backlash over whether the deals truly benefit taxpayers. Such sales can result in reduced accountability and sometimes poorer service outcomes when cost-cutting becomes the private operator's priority.

#auspol #privatisation #publichealth #taxpayerfunds #healthcare #publichospitals #australia #ppp #publicassets #health