Pakistan Post Suffered Losses of Over Rs 460 Million in Last 3 Years

The postal department suffered a loss of Rs 460.8 million during the last three years (2014-16) as a result of corruption, misappropriation and embezzlement by its officials, the Director General of Pakistan Post informed a parliamentary committee on Monday.

A total of 224 cases including 146 of embezzlement/fraud involving Rs 408.1 million and 78 of theft, dacoity and robbery involving Rs 52.7 million were registered during 2014, 15, 16, said DG Pakistan Post while briefing Senate Standing Committee on Communication. The committee met with Daud Khan Achakzai in the chair here on Monday. These cases were registered by the police, National Accountability Bureau and the Federal Investigation Agency, said DG, adding that the pace of recovery slowed down after reporting the cases to FIA/NAB and even these recoveries were made by the department itself.

The official further stated that Pakistan Post daily financial transactions stands at Rs 4.6 billion and Rs 1.38 trillion per annum where the amount of loss/fraud is 0.009 percent of yearly cash handling. The department has recovered Rs 101.7 million so far including 24 percent in embezzlement and only 7.2 percent in robbery/dacoity.

Pakistan Post daily financial transactions stands at Rs 4.6 billion and Rs 1.38 trillion per annum

DG said that 773 employees were involved in loss/fraud and cases of 721b have so far been decided while 52 are under process. About 93 percent cases of involved employees have been decided and punishment has been imposed.

Committee chairman said that despite the passage of four years, post offices have not been transferred on software and directed to immediately start work at all post offices.

Chairman National Highway Authority (NHA) and Secretary Communication Shahid Ashraf Tarar said that revamping of Pakistan Post would be completed by end of the current year.

About the Pakistan Revamping strategy, officials informed that for the Mobile Money solution, Expressions of Interests (EOIs) from 26 companies were received while (Request for Information) RFIs were received from 9 companies. The officials said that brand name registration is underway through IPO of Pakistan. Consultant has been hired for launching of the project and Public Private Partnership Policy has been framed, he added.

A total of 224 cases including 146 of embezzlement/fraud involving Rs 408.1 million and 78 of theft, dacoity and robbery involving Rs 52.7 million

About the Pakistan Post Logistics Company, the officials said that EOIs were received from 16 companies while RFIs were received from 6 companies. Registration of logo/full name/brand name of POSTLOG processed in IPO, while interviews for hiring of consultant for POSTLOG has been conducted. The Pakistan Post Logistics Services (Pvt.) Limited has been incorporated with the SECP and the process of hiring of consultant is underway.

Pakistan Post officials admitted that no substantial work has been done on Re-branding of Pakistan Post as EOI for Re-branding of Pakistan Post is under Process of publication. Re-branding of some post offices has been completed within existing resources of Pakistan Post budget which include G-8 Markaz P0, Islamabad, D-Block Pak Secretariat Islamabad, Attock City Post Office, Gujjar Khan GPO, Muzaffarabad GPO, Bagh GPO, Plandari GPO, DHA Karachi P0, EP Centre Karachi Shahre-e-Faisal PO Karachi, Khayaban-e-Sir Syed PO Rawalpindi, R.A. Bazar P0, Ghalib Market Gulberg PO, Pindi Bhattian PO.

A summary for up-gradation /re-branding of post offices throughout Pakistan is being initiated for approval / provision of funds to the Prime Minister.