privatize (C1)

verb

Pronunciation: /ˈpraɪvətaɪz/

Definition

To transfer ownership or control of a business, industry, or service from the government or public sector to private companies or individuals.

Examples

• The government decided to privatize the national railway system to improve efficiency.

• Critics argued that privatizing essential services like water could lead to higher costs for consumers.

• Many countries chose to privatize state-owned airlines in the late 20th century.

Synonyms of privatize

Words with a similar meaning to privatize:

• denationalize
• deregulate
• commercialize

Antonyms of privatize

Words with the opposite meaning to privatize:

• nationalize
• socialize

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