GLIC Footprint in the Private Sector : Policy Dilemma
The broad presence of government-linked investment companies (GLICs) in the private sector and the challenges that it poses to the long-term development of the economy have been both widely discussed and documented. In addition to serving as fund managers to public and private sector depositors, the responsibilities of GLICs are perceived by many to also include supporting the government’s policy objectives on the labour market, industrial development as well as ensuring financial market stability.'
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GLIC Footprint in the Private Sector: Policy Dilemma
Government-linked investment companies (GLICs) have higher presence in policy-driven industries such as Telecommunication and Media, Transport and Logistics, as well as Utilities. High equity ownership in the Finance industry is also particularly concerning as most GLICs have controlling stakes in at least one bank.