privatization of state-owned enterprises

Privatization of state-owned enterprises refers to the process where government-owned businesses are sold to private investors or companies. This move aims to increase efficiency, promote competition, and reduce government spending. Supporters argue that private management can lead to better services and innovation, while critics worry about potential job losses, reduced accountability, and prioritizing profit over public interest. Essentially, it shifts control from the government, which aims to serve the public, to private enterprises that focus on making money. The overall goal is to improve economic performance and service delivery.