It is a type of company where the shares of the same belong totally or partially to the state or Government of a specific country. In this sense, the shares owned by the state in these types of companies allow it to make important decisions within the company.
One of the main objectives of the public company is the satisfaction of the needs of the population governed by the state, it is even more important than obtaining monetary gains, that is, it precedes this principle above all things. .
This type of public company is created through presidential decrees in order to comply with the activities demanded by the population. Its financing comes directly from the state and from the profits that it may obtain from the production or exploitation of any product or mineral.
In view of the fact that a public company does not have a structure in terms of inspection, similar to that of a private company, the figure of the comptroller appears and intervenes , who is in charge of carrying out the pertinent fiscal controls in order that the funds that the state delivers to the company and those that the company generates, are delivered and directed where appropriate.
This comptroller’s office is an organization of the same state that allows to supervise and supervise the distribution and directing of the funds that exist in this type of companies, so that there is no misappropriation or waste of them.
Purpose of the public companyThe profits that this type of company could generate is not quantified by the amount of money received, but by the quality of service it provides to society . In this vein, it is important to note that this type of company is governed by certain laws , as well as the workers who provide services within it.
In this same vein, it is important to note that a private company does not seek to enrich itself with the money acquired from the work it performs, but rather, to provide an optimal and quality service, always for the benefit of the community.
Finally, we must emphasize that it may be the case where private companies can become public, through nationalization carried out by the state through a presidential decree. Similarly, it may be the case where the public company can become private, this through the purchase of shares by the private sector.
Examples of public companies
- PDVSA (Venezuela)
- Fiscal oil fields of Bolivia
- Barcelona Zoo
- Bogotá telecommunications company
- Argentinian airlines
- Petrobras (Brazil)
- Mexican oil
- Forecast for public assistance
- Port company Arica (Chile)
- Chilean national television
- TAME (Ecuador)
- EMPUMAR (Spain)
- Venezuelan television
- Dairy Los Andes (Venezuela)
- Mails from Mexico
- Bank of Venezuela
- Treasury Bank (Venezuela)
- National lottery for public assistance (Mexico)
- Venezuelan Glass
- INVECEM (Venezuela)
- INVEPAL (Venezuela)
- MINERVEN (Venezuela)