privatize

Word family

Related topics: Economics, Business basics

pri·vat·ize (also privatise British English) /ˈpraɪvətaɪz/ verb [transitiveT]

PEBBif a government privatizes an organization, industry, or service that it owns or controls, it sells it 使私营化，使归私有 → nationalize

Examples from the Corpus

privatize• Over the years, he cut costs by privatizing a big portion of each service.• Employees of the Strathtay bus company, which has been privatized, are concerned that drivers are about to be made redundant.• The company was privatized by the government in 1987.• Hungary has been very keen to privatize its major industries, following the democratic reforms of 1988.• Boris Yeltsin and his team wanted to privatize land after toppling the Soviet system.• Chiluba pledged to reduce spending on the security forces and to privatize loss-making parastatal organizations.• Third, it is time to privatize Pemex, the inefficient state oil company.• It has suggested privatizing Snecma, which makes aeroengines.• Another proposal suggests privatizing some aspects of local prisons.• Gazing into our crystal ball, we see Scott breaking her campaign promise to not privatize Tucson Water.

From Longman Business Dictionary

privatizepri·vat·ize /ˈpraɪvətaɪz/ (also privatise British EnglishBrE) verb [transitiveT]ECONOMICS

if the government privatizes a company or activity that it owns or operates, it sells the company etc to a business or to members of the public, who become its new SHAREHOLDERs

the Argentine government’s drive to privatize a number of businesses

When it privatized agriculture, Vietnam went from rice-importer to exporter in one growing season.

→ compare nationalize

—privatized (also privatised British EnglishBrE) adjectiveadj

the privatised gas industry

pri·vat·ize verb

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