I STRONGLY believe that privatization is one of the most effective solutions to global economies when it comes to alleviating the financial pressures most governments suffer from. Several countries adopt privatization policies. Privatization opportunities in our country are promising. Privatization does not mean that the government does not play any role and allow companies to control the basic services provided to citizens. It is not like that. Electricity, water, energy, etc. cannot be put out in the market in form of demand and supply. These are basic services affecting all citizens, especially the low- and medium-income ones. Privatization can be applied to airports, for example. The government can rent an airport to a company and this company will be in charge of running the airport. The government will still benefit from renting the airport because it will be paid a rent. The Saudi Arabian Airlines can be privatized to alleviate the financial burden on the state. The same thing can be applied to universities; they can be privatized and the company running them will be in charge of all expenses. By doing so, the government is not relinquishing its ownership rights; it is in fact selling some part of its shares, reinvesting in them, and reduce the financial burden on its back. It is giving the private sector a chance to invest in the facilities. The state market shares exceed SR600 billion. If the government sells SR100-SR200 billion then reinvest in them, it is benefiting largely from this step. The important thing is to adopt a privatization policy. The Saudi Commission of Tourism and National Heritage (SCTH) generates money from the fees and taxes imposed on licenses, visas, etc. This means that the SCTH is self-financed. Others facilities can be privatized include railways and stadiums. For example, the state can give a company the right to build and run stadiums for 20-30 years and take back the ownership of stadium after this period. Privatization does not necessarily mean that prices should go up and citizens should suffer as a result. This is not privatization at all; it is a distorted version of the definition of privatization. I believe the government will benefit from privatization.
