By Myrna Alexander, Carlos Corti, World Bank
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Additional info for Argentina's privatization program: experience, issues, and lessons, Page 93
Most privatizations were carried out by specially designated commissions including representatives of the central unit, staff of the sectoral secretariats, audit and control bodies, company management, and occasionally other levels of government (provincial and municipal). The participation of the auditing bodies was particularly useful in ensuring that the process conformed to Argentine administrative procedures. Each privatization commission had a full-time manager who reported to the enterprise's chief executive or to the functional secretariat.
The progress achieved by the government of Argentina in privatization is attributable almost totally to the participation of three series of actors, all of them Argentine. First, there was the strong support given to the program by the Argentine people, including many affected workers and consumers. Next, there was the constant and decisive leadership of President Menem. And finally, there was an extraordinary effort by a group of government officials working sometimes day and night to bring this difficult program to its conclusion.
As of March 1993, only one new regulatory agency was working in Argentina (in telecommunications), and that one was dependent on a consultant firm and consumer group to do much of its work. Autonomous regulatory agencies administering fundamental legislation are so alien to Argentina's recent history that it will probably take years to develop a "demand" for good regulation. For example, the autonomy granted the National Telecommunications Commission was originally abused; the members of the commission essentially did little work and its executiveat the suggestion of the World Bankfinally had to intervene.
Argentina's privatization program: experience, issues, and lessons, Page 93 by Myrna Alexander, Carlos Corti, World Bank