Question

Transfer of assets from public sector to private sector is known as

Answer 1

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Transfer of assets from public sector to private sector is known as privatization.

Privatization was pioneered by the Conservative governments under Margaret Thatcher in the 1980s, reversing the measures of nationalization that had been carried out in the postwar years. It was a central plank of the party's policy to reduce the role of government in society and the economy. The privatized industries usually required a new regulatory framework e.g. to control prices. The policy was related to individualism because of the encouragement to individuals to buy shares in the companies.

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