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What is a parastatal?
in Agenda 2063 by Bronze Status (8,597 points) | 31 views

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Quasi-governmental organizations, corporate entities or agencies that are treated by national laws and regulations to be under the guidance of the government, but also separate and autonomous from the government. While the entity may receive some revenue from charging customers for its services, these organizations are often partially or majorly funded by the government.

They are usually considered highly important to the smooth running of society, and are sometimes propped up with cash infusions in times of crisis to help surmount situations that would bankrupt a normal privately-owned business. They may also possess law-enforcement authority, usually related to their functions. They pursue purely non-financial objectives. They should be distinguished from State Owned Enterprises that have a distinct legal form and are established usually by government to operate in commercial affairs
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