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Privatization means transfer of ownership of state assets from the public bodies to private
enterprise or provision of services from public to private enterprise. The aims of the
privatization programmes are political and economic. The relative importance of the reasons
for privatization differs from country to country but basically they are;
a) Failure of nationalized industries in general to meet consumers needs effectively
b) The wish to reduce the power of the state and its role in the economy.
c) Belief that an enterprise based economy would allow for greater flexibility and a
better response to consumers demand.
d) Determination to create capital – owning democracies.
NatalieR answered the question on June 22, 2022 at 11:25
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