Privatization (noun)

The process of transferring ownership of a state-controlled service or industry to the private sector.

Origin:

Formed from the adjective "private" with the suffix "-ization", privatization refers to the process or act of making something private or transferring ownership of a state-controlled service or industry to the private sector.

Examples:

1. The privatization of the national telecommunications company was a controversial move that sparked public debate.
2. Many experts believe that privatization can lead to more efficient and profitable operations.
3. The privatization of the country's rail system is expected to bring in billions of dollars in investment.
4. The government's decision to privatize the state-run power company has faced strong opposition from labor unions.
5. The privatization of healthcare has been a contentious issue for many years.