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Pakistan Post facing Rs12.5b deficit

Pakistan Post facing Rs12.5b deficit

RAWALPINDI: Pakistan Postal Service has been facing a Rs12.5 billion annual deficit and the government is struggling with stabilising the department’s financial position by introducing new services including e-commerce, mobile money order and logistic facilities in the country.

“We are working hard for putting the house in order and to earn double the amount of the deficit,” said Federal Minister for Postal Services Murad Saeed at a ceremony held at the General Post Office (GPO) Saddar.

The event was organised by the Post Master General (PMG) Northern Punjab Circle Hafiz Zafar Ali Malik to introduce officers and field staff to the minister.

Employees of the GPO, PMG Islamabad, Azad Jammu and Kashmir and Gilgit Baltistan also attended the event.

Mr Saeed said the department has incurred huge losses and the deficit for the last five years has been recorded at Rs52 billion. He said the government is planning to computerise postal services so it can provide faster services.

He said there are no plans currently for privatising the organisation and that the government is working on improving the financial condition of Pakistan Post.