Protecting the state owned company its just the excuse to protect the corrupt government from having the same destiny as the egyptian, gaddafi's and so on.
Some state monopolies are essential to democracy, for example justice, military, law enforcement. Imagine private judges.
I can not only imagine private arbitration, I've seen it. I don't wish to claim that applying this to the entire judicial system would be simple or without potential pitfalls. Private security, meanwhile, has been around for a long time, and is used extensively today.
