Definition, Meaning & Synonyms

parastatal

noun

/ˌpærəˈsteɪtəl/

Definition

A parastatal is an enterprise that is owned or controlled by the government, typically involved in commercial activities.

Examples

The national railway system is a parastatal responsible for passenger and freight transport.
Many countries rely on parastatal companies to manage their natural resources.
Parastatals often compete with private companies in the market.

Meaning

Parastatals operate in various sectors, such as transportation, telecommunications, and energy, and are created to provide public services while also engaging in profit-making activities.