Parastatal

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Parastatal

A slang term for state-owned enterprise, especially in Africa.
References in periodicals archive ?
Agri-Eco's own experiences of re-structuring in 1995-6 offer an interesting case study of the pains of transition for a bundle of para-statals which in the era of apartheid epitomised 'top-down' development -- telling farmers and others what to do, unblushing private accumulation (grossly inflated salaries) and institutional rip-offs (manipulation of expenses, etc.) by top officials.
All of these indices reflect the fact that, whatever steps have been taken towards 'de-regulation' in the narrow sense, 'the market' is regulated in the broader sense in all sorts of ways that relate to the unequal distribution of power in society as a whole.(37) The privatization of development para-statals, for example, has exposed a fundamental dilemma, not yet resolved: how to reconcile a commitment to serve the poor and the unemployed and the disadvantaged with the need to charge commercial rates to those same poor, unemployed and disadvantaged.
A series of illustrative case-studies is presented, relating to the allocation of stateowned land; state-facilitated `market' access to privately-owned land; the reconstruction and partial privatization of a para-statal development agency, which have brought into question the viability of a `community conservation' project and also exposed the agency to political cross-fire; and, finally, some intricacies of the possibility of land restitution to people dispossessed under apartheid, which raises the question of whether the concept of indirect racial discrimination may be applied in the South African context.