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privatization
(redirected from Privatisation)

   Also found in: Dictionary/thesaurus, Financial, Wikipedia 0.01 sec.
privatization: see nationalization nationalization, acquisition and operation by a country of business enterprises formerly owned and operated by private individuals or corporations. State or local authorities have traditionally taken private property for such public purposes as the construction of
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privatization

Transfer of government services or assets to the private sector. State-owned assets may be sold to private owners, or statutory restrictions on competition between privately and publicly owned enterprises may be lifted. Services formerly provided by government may be contracted out. The objective is often to increase government efficiency; implementation may affect government revenue either positively or negatively. Privatization is the opposite of nationalization, a policy resorted to by governments that want to keep the revenues from major industries, especially those that might otherwise be controlled by foreign interests.



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Islamabad, September 29, 2009 (Frontier Star): In order to benefit from the efficiencies of experienced management and to have better impact on the country's economy the government has changed the concept of privatisation to Public Private Partnership.
Finance Minister Alexei Kudrin told the Vedomosti financial daily that with the income from privatisation Russia could reduce its use of reserve funds and cut the volume of planned bond issues needed to make up the budget shortfall.
INTRODUCTION Privatisation (1) has been adopted across the world as a part of structural adjustment programme as well as a measure towards greater involvement of the private sector in the growth process.
 
 
 
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