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 | [count noun] : the government launched a new round of privatizations | [as modifier] : the government's privatization plans.
Privatization is the process of transferring an enterprise or industry from the public sector to the private sector. The public sector is the part of the economic system that is run by government agencies.A system of administration distinguished by its (1) clear hierarchy of authority, (2) rigid division of labor, (3) written and inflexible rules, regulations, and
