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privatization

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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, November 06, 2009 (Balochistan Times): The Senate Standing Committee on Privatization, which met at the Parliament House Friday under the Chairmanship of Senator Adnan Khan, has sought details of the terms and conditions applied to the privatization of HBL, KESC, PTCL and other major public sector entities.
ISLAMABAD, November 06, 2009 (Frontier Star): The Senate Standing Committee on Privatization, which met at the Parliament House Friday under the Chairmanship of Senator Adnan Khan, has sought details of the terms and conditions applied to the privatization of HBL, KESC, PTCL and other major public sector entities.
But Vedomosti quoted government sources as saying that a new privatization drive would be also aimed as much at improving the image of Russia, which is still criticized by the West for having excessive state control of the economy.
 
 
 
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