privatisation

Privatisation is the process of transferring ownership and management of a business, service, or industry from the government to private individuals or companies. This usually aims to improve efficiency, innovation, and service quality by introducing competition and private sector expertise. For example, when a government sells a national airline to private investors, that airline becomes privatized. Privatisation can lead to increased productivity and investment but may also raise concerns about accessibility and affordability for all citizens. Overall, it’s a way to shift control from public (government) to private ownership in pursuit of economic and operational benefits.