• PUBLIC CORPORATION
    ECONOMICS

    PUBLIC CORPORATION

    Public corporation, also known as public enterprise or statutory corporation, may be defined as a large scale business organisation set up, owned and financed by the government of a country mainly to provide services to the members of the public. They are directly under the control of the government to cater for the welfare of the people. Public corporations are run by the government through the tax paid by the people. They are established by an act of parliament or decree. The public corporation is controlled by board of directors, appointed by the government. They are not set up to make profit but to provide special services to the public.…

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