Some textile mills were running by Private Owners have incurred huge losses and taken over by government and formed National Textile Corporation. Then NTC mills started incurring heavy losses and closed down. Now tell me which is better: Private sector or Public sector?
One should understand the actual situation. The NTC had number of higher level officials with huge salary and without any necessity. In open market the readymade shirts phants and sarees were available at cheaper rates, but the goods produced by the NTC could not be sold quickly bze of its price. People generally used to look for cheap but attractive colour and variety of cloths only. Only few are concerned about its period of wear and tare. This basic idea was not properly understood by the highly paid officials of the NTC and obviously the goods produced remained in godowns and ultimately the loss was faced.