Pakistan Post has incurred an annual deficit of Rs. 12.5 billion while the government has been taking desperate measures to stabilize the department’s financial position.
Currently, the government has introduced many new services like e-commerce, logistic facilities, and mobile money order in the country.
However, it seems that the department has a long way to go, as its losses for the last five years are recorded at Rs. 52 billion.
“We are working hard for putting the house in order and to earn double the amount of the deficit,” said Murad Saeed, the Federal Minister for Postal Services while addressing a ceremony at the General Post Office (GPO) Saddar.
As for the event, it was held by the Post Master General (PMG) Northern Punjab Circle Hafiz Zafar Ali Malik for the sake of introducing field staff and officers to the minister.
Among others, the GRP employees, PMG Islamabad, Azad Jammu and Kashmir, and Gilgit Baltistan were also present at the event.
The federal minister said that the department had to face huge losses and the last five years’ losses have reached Rs. 52 billion. He told that the government intends to computerize postal services to provide speedy services.
Saeed maintained that the government has no plans to privatize the organization. It is working to improve the financial condition of Pakistan Post, he added.
“People will see the difference within three months,” said the minister. “Pakistan Post is heading towards e-commerce, rebranding, mobile money order, and enhanced logistic facilities via a network of 12,000 post offices across the country,” he said.
The minister further told the audience that Pakistan Post has a market of Rs. 80 billion and it can leverage its market share with expanded services and attractive packages.
“We have 40,000 officials and field staff who can bring about a positive change,” he said.