Özelleştirme ve Türkiye uygulamaları

Abstract

Bu çalışmada "özelleştirme" konusu ele alınmakta- dır. Özelleştirmenin tanım ve amaçları, özelleştirme yön temleri, özelleştirme programının teknik yönleri, Türkiye'de özelleştirme hazırlık çalışmaları, KİT'lerin başlıca sorunları, çözüm önerileri ve KİT'lerde reorganizasyon çalışmaları konusunda bilgiler verilerek, özelleştirme konusunda yöneltilen eleştiriler ve karşıt görüşlerin değerlendirilmesi yapılmıştır. Ayrıca ülkemizdeki özelleştirme çalışmalarına değinilerek bazı çözüm önerileri sunulmaktadır. Birinci bölümde, genel olarak özelleştirme konusu ele alınıp, bu konudaki görüşlere yer verilmiştir. İkinci bölümde, özelleştirmenin ideolojik yönleri üzerinde durulup, özelleştirme akımının doğuşu, dünyada ve gelişmekte olan ülkelerde özelleştirme çalışmaları konusunda bilgi verilmiştir. Üçüncü bölümde, özelleştirmenin tanım ve amaçları ele alınıp, Türkiye'de KİT'lerin özelleştirilmesindeki amaçlar açıklanmıştır. Dördüncü bölümde, özelleştirme yöntemlerine yer verilip, bu yöntemlerin avantaj ve dezavantajları konusunda bilgi verilmiştir. Beşinci bölümde, özelleştirme programının teknik yönleri, İngiltere örneği ele alınarak incelenmiş ve İngiltere'deki uygulama sonuçlarının değerlendirilmesine yer verilmiştir. Altıncı bölümde Türkiye'de KİT'lerin özelleştirilmesi, konusunda yapılan hazırlık çalışmaları ve raporlar hakkında bilgi verilmiştir. Yedinci bölümde, KİT'lerin başlıca sorunları, sorunların çözümü için getirilen öneriler ve KİT'lerdeki reorganizasyon çalışmalarına yer verilmiştir. Sekizinci bölümde, ülkemizdeki özelleştirme çalışmalarında karşılaşılan sorunlar, yöneltilen eleştiriler ve bu eleştirilere karşılık geliştirilen görüşlere yer verilmektedir. Sonuç ve öneriler bölümünde ise, özelleştirmenin Türkiye uygulamaları konusunda genel bir değerlendirmesi yapılıp, bazı çözüm önerileri sunulmaktadır.

During the 1980s there has been a growing acceptance that the free and flexible operation of markets is of paramount importance in achieving strong and substantial growth. Governments throughout the world, not least in the emerging democracies of Central and Eastern Europe, are therefore seeking to increase the role played by a free market in their economies. One part of those efforts is privatization, the transfer of state-controlled or state-owned industries to the private sector. In chapter one, a brief definition of privatization is given as well as pros and cons of privatization. The importance of promoting competition with the purpose of improving efficiency has always been emphasized by autho rities and it is believed that the long-term success of the privatization program will stand or fall by the extent to which it maximizes competition. Competition also will provide the maximum consumer benefits. Denationalizing an enterprise into an uncompatitive environment is likely to be positively harmful. Privatization will tend to improve performance in a company only if supported by liberalization. However there are some activities where the introduction of competition would be ineffective, because these activities sustain natural monopolies with substantial hidden costs. In these cases, new types of competition should be introduced through franchising and competitive tendering. Privatization has a profound effect on the labour market. In Britain, privatization is regarded by the Government as a means of disciplining the power of public sector trade unions. Privatization also has income re distribution effects. The sale of profitable state economic enterprises (SEEs) to employees and small investors with incentives has the meaning of transferring income to these groups. This method, not only improves the efficiency of enterprises but also transfers the benefits of increased efficiency to low-income groups. In chapter two, the ideological aspects of privati zation detailed in creation and distribution of wealth is discussed as well as the ideas leading to the privatiza tion. In addition to this, the privatization practices in the world and developing countries is reviewed. viii In every country, disregarding the ideological discrimination as capitalist or socialist/communist, pub lic and private sectors perform functions at the same time. However, their shares in the aggregated economic activity differ depending on the country's "administrative ideology". The birth and evolution of SEE' s within the market economies of developed countries go back to the US. Stock Market crash of 1929-1930. After Big Crash, especially during the post World War II period, Keynesian policies imposing increasing Government intervention leading to nationalization were implemented. On the contrary, at the second biggest economic instability period, i.e. mid-1970' s neo-classical policies were implemented with the objective of minimizing Government intervention leading to privatization. Since 1970, world-wide, more than fifty countries have adopted the privatization policies including develop ing as well as developed ones such as US, France, West Germany, Spain, Portugal, Sweden, Japan etc. The country which has adopted the most extensive privatization policies is the UK. Appearance of privatization in developing countries is largely due to external pressures from international aid donors and banking agencies, such as the World Bank and IMF. IMF has seen privatization as one way of reducing public sector dept, however, weakness of capital market and prejudices against foreign ownership discourage privatization process. In chapter three, definition of privatization is given and various ideas regarding the objectives of privatization are introduced. Moreover, the objectives that were judged as being of most relevance for Turkey as sum marized. Privatization is defined as the transfer of both ownership and management of SEE' s to the private enter - preneurs and organizations by TUSIAD. However, the defi nition of privatization does not only include the sale of public sector assets but also liberalization and sub contracting of public services. In the TUSIAD report (1986) prepared to analyze the conditions of success in the sale of SEE' s to the public, the general objectives of privatization are determined as: - To strenghen free market economy - To improve efficiency in the economy - To improve income distribution - To promote widespread share ownership - To improve capital market - To promote investment of savings in common stock in larger proportions. ix The Morgan Bank experts who had prepared the "Privatization Master Plan" determined the objectives which, were considered as having the most relevance for Türkiye. Some of these objectives are: - The most important aim of the privatization process is clearly to increase industrial efficiency and generate growth in the real economy. - The development of capital market scored as the second most important objective. - Generating revenues for the government was determined to be the least important objective while minimizing financing support for the SEE' s by treasury was specified to be moderately important. - The objective of shifting political ideology more toward private ownership was ranked comparatively low in importance. In chapter four, various methods of privatization are introduced. These methods are; 1. Deregulation and Decontrol 2. Bidding of services 3. Voucher method 4. Subsidizing 5. Contracting-out 6. Franchising 7. Joint Venture 8. Management Control 9. Leasing, etc. Chapter five focuses on procedure of privatization and results of the privatization program in the UK. The Privatization process which requires two or three years of complicated work can be divided into three steps. First, the industries which will be given priority are determined by examining the effects of each alternative privatization proposal on different interest groups such as existing and potential customers, taxpayers, suppliers of labour and capital etc. Second, the company is given a private status in accordance with 1948 Companies Act and restructured to work successfully in private sector. The last step is to determine the sale price and perform the sale process. During the sale process, following arrange ments are required: - A detailed sales prospectus - The sale methods - The sale price - The purchasing ability of market Privatization has been performed since 1945 in the UK and considered as one of the fundamental economic and industrial reforms. While it provided a substantial amount of revenue to the treasury, it has been intensively criticized as well. In chapter six, the pre-works of privatization process in Türkiye is introduced. In Türkiye, privatization master plan was prepared by Morgan Guaranty Bank through the sponsorship of World Bank. In this plan, the objectives of privatization were given and SEE' s were classified according to their priorities. Further, each privatization method is determined in accordance with classification. Chapter seven focuses on the basic problems of SEEs, the solution proposals of these problems and reorganization process in SEEs. In Türkiye and in the other countries, which have similar economic conditions, the state holds the consider able amount of investments in order to open new enter prises. This causes the organizational problems such as wrong location, technology or excessive employment and management problems. In order to solve the above problems, solution proposals are as follows: 1. Freeing the SEE' s from Government intervention. 2. Increasing the effectiveness of management. 3. Solveng the financial problems. 4. Improving marketing policy. 5. Encouraging new technologies, etc. In this chapter the reorganizational models to reform the structure of SEE' s are introduced. The common aim of each model is to increase the efficiency and profitability in SEE' s freeing them from the Government intervention. It is also emphasized that freeing the SEEs from Government intervention can not be a alternative to privatization, as privatization is the best way to increase efficiency. Chapter eight focuses on the problems, which, were faced during the implementation of privatization practices in Türkiye and critiques against or in favor of privat ization are introduced. Further, the success conditions of privatization policy relevant for Türkiye and the privatization revenues are given. In conclusion, implementations of privatization policies in Türkiye are evaluated. It can be shown that an important number of state economic enterprises have been sold by direct placement (Block Sale) to foreign and certain Turkish buyers. This is contrary to the objectives of promoting widespread share ownership and redirecting savings and spreading out capital market development. While priority has been given objective of generating revenues for the government, main objective, to increase competition, has been overlooked as well. By election of 20 October 1991, a new government has come to power. Although they disagree with previous government policy they pledge to sell state economic xi enterprises to any private sector ( foreign or domestic ). The new government has also started to work on reform of SEEs, which, would not be logical to be sold as is. In this study, the best method of selling the state economic enterprises is the splitting up the ownership among private sector, employees, managers, public and government. Less than 50 % of ownership should be sold to private sector by Block Sale, a small amount of ownership known as "golden share", which, doesn't put pressure on management should be hold by Government and the remainder should be sold to employees, managers or public. This method will help to obtain the objective of widespread share ownership and the management problems will not exist after privatization. It will also provide efficiency throughout the company by leaving management to private sector. As a result, privatization will be useful for Turkish economy provided competition and necessary regulation is introduced. Government objectives such as promoting widespread ownership, speeding up capital market develop ment can be obtained if SEEs are privatised through the stock exchange. It is certain that the sale of SEEs by Block Sale method to foreign or certain domestic companies will not help to reach above objectives. Moreover this method will worsen unfairness in income distribution. In the last part of study some suggestions are given in order to increase the success of privatization process in Türkiye. These are: 1. Deregulation and decontrol should be performed by Government 2. Public services should be provided by private sector. 3. Widespread share ownership should be promoted in order to increase efficiency in the companies. 4. Privatization revenues should be used to open new enterprises instead of balancing budget deficits. 5. Selling the efficient and profitable SEEs given priority will improve capital market. However the SEEs which are natural monopolies should not be sold. 6. Privatization practices should be performed in the knowledge of public. Since there may some increased unemployment in the economy as a result of privatization and trade unions will probably be against privatization practices. Therefore, if public is informed as to the program, then it could be possible to generate alternative ideas to solve the problems. 7. Private sector should be encouraged to provide the touristic, health, nursery services as well as public transportation.