Meaning of the word privatize in English

What does privatize mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

privatize

US /ˈpraɪ.və.taɪz/
UK /ˈpraɪ.və.taɪz/
"privatize" picture

Verb

1.

transfer (a business, industry, or service) from public to private ownership and control

Example:
The government plans to privatize the national airline.
Many public services have been privatized over the past decades.
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