What is the procedure of privatization?

This is however; wrong to think about the procedure of privatization can act as a magic wand. An extremely recent comparative study of the two divisions has clearly established which at least in part the perceived relative efficiency of the private corporate sector like compare to the public sector is false. Private sector cannot make sure balanced development of all sections of the economy. Profits earned through the private sector are frequently siphoned off to the non-productive areas as gold and real estate this is also feared that privatization may introduce a monopoly element. State monopoly is definitely more tolerable than private monopoly.