Privatize meaning

prīvə-tīz
To change (an industry or business, for example) from governmental or public ownership or control to private enterprise.
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To change (an industry or business, for example) from governmental or public ownership or control to private enterprise.
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To make or hold private; specif., to turn over (a public property, service, etc.) to private interests.
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To transfer ownership of a public utility from the government to private interests. See also liberalize, nationalize, and utility.
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To release government control of (a business or industry) to private industry.
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(computing) To make (a variable, etc.) private in scope.
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