privatization


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privatization:

see nationalizationnationalization,
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 roads, dams,
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.

privatization

  1. the sale or transfer of ‘nationalized’, publicly owned industries into private ownership and control. In the UK this process is particularly associated with the economic and social theories of THATCHERISM. The sale of shares in British Telecom, British Petroleum, British Gas, British Airways, and other companies is one aspect of this. In other areas the sale of council houses, and proposed changes in the WELFARE STATE, particularly in the funding of health and education, are comparable. See NEW RIGHT, NEW PUBLIC MANAGEMENT
  2. retreat of the individual from participation in political and PUBLIC activities.
  3. a process in which traditional, working-class communal life styles are said to have been replaced by more family and home-centred ones, away from the older working- class housing and in relatively new housing estates. Sense 3 is particularly associated with the AFFLUENT WORKER study of GOLDTHORPE, LOCKWOOD et al. (1968-9). The focus of interest in this work is the hypothesis that significant changes in attitudes are associated with privatization. In particular, the breakdown of class loyalties, an ‘instrumentalist’ orientation to work, a new concern with living standards and status, a more pragmatic political orientation (rather than an ‘automatic’ support for the Labour Party), greater job mobility, and, generally, more individualistic attitudes. The Affluent Worker study is undoubtedly a ‘classic’ of British sociological research. Drawing on a number of themes which were popular in the 1950s and 60s, it has been a source for theoretical and empirical work in the areas of working-class structure, CLASS CONSCIOUSNESS, and CLASS IMAGERY. Critics have indicated the oversimplification of Lockwood and Goldthorpe's categories, questioning their empirical usefulness in circumstances in which nontraditional class locations are associated with instrumentality and increased political militancy. Critics have also noted the lack of consideration given to factors other than social CLASS in the work: race, gender, religion, age, for example, may all affect attitudes (see Rose, 1988). As part of the reorientation of British sociology in the study of social class and class consciousness, though, this study of changing aspects of social class structure and consciousness remains of central importance.
References in periodicals archive ?
Earlier, the Ministry gave a detailed presentation on the 'Status of Overall Privatization' and informed the Committee that a total of 172 transactions worth Rs 649.3 billion had been completed since the privatization process started in January 1991.
On the request of the Ministry of Maritime Affairs CCoP also approved the delisting of Pakistan National Shipping Corportaion, Port Qasim Authority and Karachi Port Trust from the Privatization Program due to the strategic importance and profitability of these entities.
It is worth mentioning here that there was no privatization since 2015 when PML-N government had divested its shares of National Power Construction Corporation (NPCC).
He informed that in pursuant to the decision of the Cabinet committee on Privatization (CCoP) the commission adopted the due process and invited expressions of interest (EOIs) for hiring of Financial Advisor.
The minister was briefed about the progress made in the privatization process of a number of state-owned enterprises, including Mari Petroleum, SME Bank and First Woman's Bank.
An official statement released after the board meeting said the list of active privatization programme was finalized after consulting all relevant ministries and due consideration was given to the feedback provided by them.
The important results achieved made it possible to apply electronic services and use innovative methods more widely, as well as toincrease transparency in the areas of public property management and privatization.
Minister of Privatization Daiyal Aziz briefed the committee regarding the implementation status of previous recommendations of the house as well as procedural steps and recommendations made by the Financial Advisory Consortium (FAC) for Privatization of PIA and the steps had been taken up by the Ministry.
By the small privatization method, 278 companies were privatized, 356 companies were privatized by the large privatization tender, and the remaining state capital in three companies was privatized through the stock exchange.
In February, the Privatization Council also green-lighted the disposition of about P658 million worth of so-called Hawaii Jewelry that belonged to former first lady Imelda Marcos.
He explains that the Supervisory Board of the Privatization Agency will decide on whether the Central Depository AD should be included in the privatization program on the basis of the stances of two entities, the Financial Supervision Commission and DANS.