Meaning of “privatization” in the English Dictionary

business-english dictionary

"privatization" in Business English

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privatizationnoun [ C or U ]

UK also privatisation uk /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

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