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English definition of “privatization”

privatization

noun [C or U] ( UK also privatisation)
 
 
/ˌpraɪvɪtaɪˈzeɪʃən/ US   /ˌpraɪvɪtəˈzeɪʃən/
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 from the Cambridge Business English Dictionary © Cambridge University Press)
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