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  2. Dictionary

    pri·va·ti·za·tion
    [ˌprīvədəˈzāSHən, ˌprīvəˌtīˈzāSHən]
    noun
    privatization (noun) · privatizations (plural noun) · privatisation (noun) · privatisations (plural noun)
    1. the transfer of a business, industry, or service from public to private ownership and control:
      "the workers are opposing the privatization of the national rail company" · "they are pushing ahead with plans for a new round of privatizations" · "the government's privatization plans"
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  3. People also ask
    What does privatization mean?Privatization also may refer to a public company becoming privately held once again. Privatization of specific government operations happens in a number of ways, though generally, the government transfers ownership of specific facilities or business processes to a private, for-profit company.
    How does privatization work?Privatization can be accomplished through various methods, including: Outright sale of public assets to a private company. In the United States, the contracting of management and operations to a private provider (outsourcing) has been more common than the sale of utility assets to private companies.
    What is privatization policy?Policies and ethics Privatization is the transfer from government to private parties of the ownership of firms. Privatization programmes have been carried out worldwide since the mid-1980s, with important consequences for economic efficiency, public finance, and distribution. In...
    What are the characteristics of privatization?The different characteristics of privatization are: Transfer of Ownership – In privatization, ownership of a company, undertaking or property is transferred to the private sector. Lack of Government Interference – Privatization reduces indulgence and interference of the state in the activities of a company.
     
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