explain extensively on what parastatals are?

Aliyuus2

1 year ago

Meaning of parastatal in English

used to describe a company or organization which is owned by a country's government and often has some political power: The intention of the Government is for all parastatal companies to be privatized.

A parastatal is a government-owned organization, established by statute, to render specified services to the public. It is structured, and operates according to the instrument establishing it and also comes under the Policy Directives of Government.