What is Government Own and Control Corporations?

A government company is one in which at least 51% of the total share is owned by government & rest is owned by general public people. This definition applies to a company with public shareholders. In a "privately" government owned company, the government either has total control of the company's operation or determines the company's operations based on its initial agreement with the private owners.

In a free market economy, it's rare for governments to have direct or indirect control of a company they have agreed to own as a way to prevent the company to go out of business.

Of course, in a socialist economy, the government can own and control a company for the benefit of its citizens.