verb · formal
privatize
UK/ˈprɪvətaɪz/US/ˈpraɪvəˌtaɪz/PRI·va·tize
to transfer a business, industry, or service from public (government) ownership to private ownership
Examples
“Many state-owned companies were privatized in the 1990s.”
“Debates over whether to privatize the service continue.”
“Privatizing utilities can improve efficiency but also raise prices.”
Band 8 sentence
“The decision to privatize the railways provoked intense debate over public interest versus market efficiency.”
Collocations
- privatize state-owned enterprises
- privatize services
- privatize the sector
Word family
Common mistakes
The government privatize the company last year.→The government privatized the company last year.
They want to privatize out the public service.→They want to privatize the public service.
Say it for a higher band
5sell off→6transfer to private owners→7+privatize
Synonyms
sell off
Easily confused
nationalize
“After the crisis, the government decided to nationalize several banks.”
Related words
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In -ize
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