parastatal

American  

[par-uh-steyt-l] / ˌpær əˈsteɪt l /

adjective

1. working with the government in an unofficial capacity.

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noun

1. a parastatal company or group.

parastatal British  

/ ˌpærəˈsteɪtəl /

noun

1. a state-owned organization, esp in Africa

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adjective

1. of or relating to such an organization

Etymology

Origin of parastatal

First recorded in 1965–70; para- ¹ + state + -al ¹

Example Sentences

“In Kenya we think any parastatal is a home for employing people, we forget productivity but when it comes to business out there, we will be eaten alive.”

From Reuters

Zambia's government has had to publicly deny reports China could seize some of its parastatal companies if it defaulted on loan repayments.

From BBC

Mr Ramaphosa has inherited a bloated, dysfunctional civil service from his predecessor, along with dangerous levels of debt and corruption-riddled parastatal organisations - like the broken state electricity company Eskom - which continue to drain billions from the budget.

From BBC

The spectacular collapse of what some call a “parastatal” company that has essentially helped the government run day-to-day operations — even managing school lunches and prisons — is raising questions about prominent contracts that continued to be awarded despite obvious red flags and warnings of lower-than-expected profits that began in earnest last summer.

From New York Times

His downfall had been precipitated by Mr Mugabe’s repeated refusal to let him meet the demands of the IMF, such as thinning the public sector and abolishing corrupt parastatal outfits, as the price of unlocking the loans urgently needed to rescue an economy that is once again in rapid decline. 

From Economist