Selling off public assets only offers temporary relief to debt crisis, says World Bank

World Bank has criticised the government’s strategy of off-loading lucrative public assets.[Courtesy]

The World Bank has criticised the government’s strategy of off-loading lucrative public assets, warning that selling these prized businesses only offers short-term relief to the country’s debt crisis.

The Bretton Woods institution argues that since the revenue streaming in from the divestiture and privatisation of key State-owned businesses is going into infrastructure projects, there will be almost no impact on the country’s debt.