from The American Heritage® Dictionary of the English Language, 4th Edition
- adj. Owned or controlled wholly or partly by the government: a parastatal mining corporation.
- n. A company or agency owned or controlled wholly or partly by the government.
from Wiktionary, Creative Commons Attribution/Share-Alike License
- n. A company, agency, or intergovernmental organisation, that possesses political clout and is separate from the government, but whose activities serve the state, either directly or indirectly.
- adj. Pertaining to such a company or group.
From para- + statal. (Wiktionary)