privatization initiatives

Privatization involves transferring ownership and management of public sector services or assets—like utilities, transportation, or healthcare—from government control to private companies. The goal is to improve efficiency, reduce public spending, and encourage competition, which can lead to better quality services. It often aims to stimulate economic growth by attracting investment and innovation. However, it also raises concerns about access and affordability, as private companies prioritize profits. In essence, privatization shifts some responsibilities from government to private hands, encouraging a balance between efficiency and public interest.