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privatization
(redirected from Privatised)

   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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It was privatised in the dying days of John Major's administration, in what can only be described as a hastily cobbled together scheme when they knew it was their last chance to do it when it seemed they were facing certain defeat.
Not only that, but threats to the benefits to disabled and unemployed people, with so-called help for claimants which is little different to bullying, administered by a reduced civil service and privatised companies seeking quick profit.
Byline: Manama Sixteen of the state-owned Bahrain Petroleum Company (Bapco) petrol stations may be privatised next year, said a top government official.
 
 
 
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