Osaka Municipal Subway privatization?

[miyakoji]

NHK was running a news item a day or two ago about the referendum on the Osaka-to plan being voted down by a slim margin.  There was also some mention of the plan to privatize the subway.  Will this still go ahead?

It was said that the system has been running in the black for a few years now.  If it were to be sold, would the sale price be enough to pay off existing construction (et cetera) debts?  Or would there be other consideration to cover this?  Or would the taxpayer be on the hook, while still paying fares, while the new owner makes bank?   :(

Edited May 20, 2015 by miyakoji

[bikkuri bahn]

Apparently the LDP is not opposed to privitisation, and the previously opposed Komeito will be less inclined to block the proposal with the defeat of the referendum. Could still proceed.  Don't know about the financial angle.

[kvp]

Usually politicians sell things that make money and usually below its worth, then spend the money on nonprofitable things that are not required anyway. The logic is that the government shouldn't own anything that is profitable. Nobody ever gave a reason why. I suspect it's just basic logic that everything that worth stealing from the people should be stolen.