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Privatization is contrary to nationalization, which is a process that adds ownership and control
of the Government to the economy. Basically, privatization involves certain government
interests or investments to the private sector. The privatization policy was first announced as a
state policy by the Government in 1983. It symbolizes a new approach in national
development policy and it complements other national policies such as the Privatization of
Malaysia, developed to emphasize the role of the private sector role in Malaysia's economic
development
In addition, the Government is also required to maintain certain services and investments. The
amount of emolument is one of the largest items of more than one-third of total operating
expenditure. Expenses in the form of transfers have also been rising rapidly since recently and
have now become almost half of the operating expenses.