privatize
verb (used with object)
to transfer from public or government control or ownership to private enterprise.
Used to describe an action that began in the past, has continued continuously, and is still in progress.
Examples are provided to illustrate real-world usage of words in context. Any opinions expressed do not reflect the views of Dictionary.com.
The government in recent years has been privatizing its ports and opening new ports in a bid to increase competition and efficiencies.
From Reuters ● Oct. 15, 2023