V REGULATORY GOVERNANCE

There is a need to regulate a service provider to ensure that services provided reflect the adequate level and meets the desired standard or quality. Regulatory control is also needed to ensure sustainable development in a sector. There are three main requirements that any sustainable development must satisfy. First, it must be economically and financially sustainable to ensure that a continuing capability exists to produce and deliver goods and services. Second, it must be environmentally and ecologically sustainable to ensure an overall improvement in the general quality of life, and not merely results in an increase in traded goods and services. Third, it must be socially sustainable so that the goods and services can be equitably shared by all sections of society.

Why regulate?