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Importance of a state-owned company (SOC)

  • Profits may be used to finance other state departments/reduce taxes.
  • Generates income to finance social programmes.
  • Jobs are created for all skills levels.
  • Offer essential services which may not be offered by the private sector.
  • Prices are kept reasonable/Create sound competition with the private sector to make services affordable to more citizens.
  • Wasteful duplication of services is eliminated.
  • Planning can be co-ordinated through central control.
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