The term "state-owned company" is, in itself, an oxymoron. These entities lack the essential elements for survival in a free market, and I'm going to prove it.
First, they don't compete. Without competition, incentives to improve, innovate, or even provide good service disappear. Customer satisfaction becomes irrelevant.
Second, those who make decisions risk nothing of their own. They don't invest their own money, they don't put their assets on the line, and in many cases, they don't even fear losing their jobs. The result? Disinterest in efficiency and outcomes.
Third, they can't perform economic calculation. They don't operate under price signals or within a competitive framework that allows them to evaluate profitability or efficient resource allocation. Since they can't adapt to the market, they become rigid and blame consumers. They complain about "excessive demand" instead of admitting their own inefficiency. Can anyone imagine a private company complaining about having too many customers? It seems like they're doing us a favor, when in reality it's the other way around: without customers, there is no company. Without quality, no one will buy.
