What does privatisation mean?
The process of transferring ownership or control of a business or industry from the state to private individuals or companies. This can involve the sale of state-owned assets, the privatization of public services, or the introduction of private sector management and investment into state-owned enterprises.
Example
"The government's decision to privatize the national airline led to significant improvements in efficiency and customer service."
Reviewed by Deb Chak, Editor. AI-assisted content curated by RJS Tech Solutions LLP.