Definition of privatization in English:

privatization

(also privatisation)

noun

mass noun
  • 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’
    • ‘There is a rising demand for rail travel, since privatisation six years ago.’
    • ‘Protests continue over the privatization of health care.’
    • ‘The strike began eight months ago with the objective of preventing the privatization of health services.’
    • ‘Privatisation of the railways was regarded by many as a disaster.’
    • ‘The majority of people are poor and cannot afford to take part in the privatization process.’
    • ‘The mayor's efforts hit heavy political opposition, and a judge blocked any privatizations.’
    • ‘He also said he would continue aggressively with the privatizations begun by the last government.’
    • ‘Cotton is one commodity for which privatization has occurred rapidly.’
    • ‘Privatisation of health services has created a two tiered system.’
    • ‘Privatization can only mean less control is vested in public discourse and more is relegated to the demands of profit.’

Pronunciation

privatization

/prʌɪvətʌɪˈzeɪʃ(ə)n/