Pakistan Post Office is all sit to launch ATM and Biometric system in the country to facilitate Benazir Income Support Program (BISP) beneficiaries and pensioners, officials revealed.
Currently BISP beneficiaries and pensioners have to wait in long queues to get their money where sometimes greedy people look for a chance to deceive poor women and aged people in the guise of help.
However Pakistan Post Office, whose annual deficit has reached to Rs 6.5 billion, is to embark on a reform agenda which would not only help the poor and aged to receive their money at their door step but would generate handsome money for the department to drag itself out of the ongoing crisis.
In the first phase, Pakistan Post would launch biometric system in the country and would give money to such people at their homes after thumb verification. The posts agent would reach their homes and would provide the BISP and pension money after verification through biometric system.
In the second phase, the department is going to launch ATM network through one link with which pension and money order could be received without any troubles.
The launch of these services would also ensure transparency in the department system which is being accused of corruption.
Pakistan Post is also in negotiations with Western Union for receiving foreign remittances. The move would help to recover the financial health of the organization. After connecting with IFS, Pakistan would become connected with worldwide postal services.
Pakistan Post is also planning to launch online parcel, cash and delivery system under the e-commerce format. Domestic courier market is around Rs 30 billion, e-commerce market is around Rs 2-3 billion, which is expected to reach Rs 60 billion in 2017 and post’s share in courier market is Rs 450 million. However after the launch of this service, the department is likely to improve its financial health.
A logistics company is going to be established with an investment of Rs.800 million (approx) in the areas include, GPS enabled trucking fleet, Ware houses, distribution channels (upgrade post offices, HR training) and information technology (data centre, backend systems, retail management etc) Brand recognition.
Pakistan Post expects to double its revenue to Rs 900 million in 2 financial years with progressive annual increase of 15% market share in 3 succeeding years.