Government Run, Run By The Government
noun, の adjective
Something that is publicly managed is something that is public aka government run. Compare this to 私営 which is private / privately run.
This is a jukugo word, which usually means on'yomi readings from the kanji. If you know the readings of your kanji you'll know how to read this as well.
I heard that the Japanese government asked Koichi to place Tofugu under public management.
In Japan, horse racing is government run gambling.
If your income is really low, you may be able to live in a cheap public apartment.