Yep, and it's a great way to assemble a lot of troops for few ME. That means 8 Pk elements have the same ME as 1 Cv (S).
Or, to put it another way, if you have a command with a mass of infantry, even just a few Cv (S) will massively increase the command's break point. Add in some baggage, and if you do all your fighting with the Pk, you'll be able to absorb insane casualties among them without suffering any morale effects.
For example, imagine a command with 24 Pk double based, plus 3 Cv (S) plus General plus 2 Irregular Baggage. That's a total of 18 ME; shaken at 5 ME losses; broken at 6.5 ME losses. In other words, you need to lose 20 of your 24 Pk elements for the command to become shaken, and even if you lose all the Pk the command is still not broken. Okay, you lose two elements of Pk each time you take a loss, but remember there are only 28 fighting elements in the command, and losing the 24 most expendable of those elements will not break the command. They're the foot version of Expendables!
