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

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

Targeting EgyptAir, a parastatal company closely identified with the government, amounts to striking a blow against President Abdul Fattah al-Sisi, who alienated millions of Islamists when he deposed his elected predecessor, President Mohamed Morsi, and outlawed the Muslim Brotherhood.

From Time

Greeks have already used up all the creative financing they can muster, having pooled cash reserves from local governments and parastatal institutions, as well as tapping rarely used special reserves at the International Monetary Fund to make the most recent debt payment.  

From US News