As government goes into more and more business activities to compete with the private sector, it can no longer look after people's interests for practical reasons such as the following:-
(1) Property Market - HDB will try to clear its own unsold stock of flats instead of trying to protect citizens' HDB resale values.
(2) Service industries - NTUC, Keppel, Sembawang, JTC, will not cry foul if insurance premiums are kept high being protected by cartel practices.
(3) Bank interests - banks are charging linterests higher than loan shark interests midway after inducing borrowers to take up loans at initial low rates. DBS will benefit as such higher rates will help to maximize its profits.
(4) Medical and Essential services - government will not object to NKF proposals to peg patient co-payments at a price which is unreasonably high and burdensome in order to protect the government reserve.
(5) GLCs' price increases - Government will not object to Transport companies presentations of case to increase profits for GLCs and create more surpluses for government.
There may be more examples of conflicts of interests which company acts consider as illegal.