1. of or relating to a state-owned or state-controlled enterprise or organization that operates with some degree of autonomy
Usage: commonly used in political and economic contexts; primarily used in Commonwealth countries and developing nations

1. a state-owned or state-controlled enterprise or organization that operates with some degree of independence from direct government control
Usage: commonly used in political and economic contexts; primarily used in Commonwealth countries and developing nations

Examples

• The parastatal airline was established to provide domestic air service across the country.
• Many African nations rely on parastatal organizations to manage key industries like telecommunications and energy.
• The government decided to privatize several parastatal companies to improve efficiency.
• Parastatal bodies often struggle with financial management and accountability issues.
• The water utility is a parastatal organization that operates under government oversight.
• Critics argue that parastatal enterprises lack the competitive pressures of the private sector.