privatize
pri
ˈprɪ
pri
va
tize
ˌtaɪz
taiz
/pɹˈaɪvətˌaɪz/
privatise

Definition & Meaning of "privatize"in English

to privatize
01

to change the ownership of an industry, service, or business from public to private

Examples
The government decided to privatize the national airline to improve efficiency and reduce costs.
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