privatization

CEFR: C1-C2 /pri-va-ti-za-tion/ [p.r.ay1.v.ah0.t.ah0.z.ey1.sh.ah0.n]

Definition: Transfer (a business, industry, or service) from public to private ownership and control

Example Sentences:

As elsewhere in the Pacific, Australia is pushing for economic restructuring measures that include drastic cutbacks to government spending and privatisations.

Another primary concern of the ANC government is the privatization of state assets