privatization

(UK also privatisation)

/ˌpraɪvɪtaɪˈzeɪʃən/

/ˌpraɪvɪtəˈzeɪʃən/ noun [C or U]

Definition

› ECONOMICS, GOVERNMENT the process of selling companies or organizations that are owned by the government to private investors: Widespread demonstrations have taken place over the increasing privatization of public resources. privatization programmes/processes/plans

→ Compare nationalization

(Definition of privatization noun from the Cambridge Business English Dictionary © Cambridge University Press)

Focus on the pronunciation of privatization