Özelletirme

Özelletirme, or privatization, is the process of transferring ownership and control of state-owned enterprises (SOEs) to private sector hands. It is pursued to increase efficiency, promote competition, reduce public debt or deficits, and attract private capital and expertise.

Historical context and scope vary by country, but in many economies it involves selling government shares, divesting full ownership, or transferring management to private operators. Common methods include direct sale to private buyers, public offerings of shares (IPOs), sales to strategic investors, management buyouts, and the use of public-private partnerships for ongoing operations or investment.

In Turkey, privatization policies gained momentum in the late 20th century and expanded through the 1990s and 2000s as part of broader structural reforms and market liberalization. A government body known as the Özelleştirme İdaresi Başkanlığı (ÖİB) historically administered privatization processes, overseeing tenders, share sales, and related arrangements. Privatization efforts have targeted sectors such as energy, telecommunications, transportation, and manufacturing, among others.

Impact and debate surrounding Özelletirme are mixed. Proponents argue privatization can improve efficiency, reduce subsidies, and generate revenue for the state to fund public services or reduce debt. Critics caution that rapid privatization can lead to job losses, higher prices for essential services, reduced access, and the risk of monopolies or strategic assets falling under foreign ownership. The pace, scope, transparency, and regulatory safeguards of privatization programs often remain central points of political and public discussion.

Overall, Özelletirme remains a contested instrument of economic policy in many countries, including Turkey, where it is shaped by broader economic goals, political considerations, and institutional design.