Which of the following refers to transfer of ownership, management and control of government sector enterprises to the private sector? |
Globalisation Privatisation Devaluation Outsourcing |
Privatisation |
Privatisation implies shedding of the ownership or management of a government owned enterprise. Government companies are converted into private companies in two ways (i) by withdrawal of the government from ownership and management of public sector companies and or (ii) by outright sale of public sector companies. |