Parastatals are established to

Parastatals are established to render social services. These are agencies or organizations owned by the government but operate like a private business, providing social services such as healthcare, education, electricity, transportation, and more. They are set up to improve the quality of life of citizens by providing essential services that the government alone cannot provide. The primary goal of parastatals is not to maximize profits but to serve the public interest by ensuring that basic social services are accessible to all, particularly those who may not be able to afford them in the private sector.