Parking meters have a similar problem. The purpose is for drivers to pay their fair share to use some real estate in a city, however the city and elected officials in charge have a vested interest to keep prices low. Nobody wants to be the mayor known for raising parking rates.
Privatization makes some sense in this case since a private company can actually make the meters charge closer to what parking should cost. However, it ended up being a pretty bad deal for Chicago in the end.