Definition of Privatization:
Some government operations are privatized in many ways, although governments usually transfer ownership of certain facilities or businesses to private, non-profit companies. Privatization usually helps the government save money and improve its efficiency. In general terms, two main sectors make up the economy: the public sector and the private sector.
Transferring companies, sectors or services from the public to private property and control.
Privatization occurs when state-owned companies, businesses or properties become the property of private NGOs. Note that privatization also refers to the transition from public to private companies. This is called corporate privatization.
Sale of state-owned companies or return to private ownership and control. Against nationalization.
How to use Privatization in a sentence?
- Privatization describes the process by which properties or companies are converted from state to private property.
- Many Americans are angry that Congress seems to be quietly moving toward the privatization of our national parks, and fear that the desecrated site will soon become a polluted commercial center.
- This usually helps the government save money and be more efficient, as private companies can move goods faster and more efficiently.
- Public companies are sometimes privatized when they find new buyers who want to change something.
- Opponents suggest that basic services, such as education, should not be subject to market forces.
- I suggest that privatization is the best decision here because the government is ineffective and should not be involved in general.
- Workers oppose privatization of National Railway Company.
Meaning of Privatization & Privatization Definition