privatization
noun [ 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
Compare
nationalization