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
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nationalization