Business

Pakistan Post increases 116pc revenue compare to FY2017-18

Pakistan Post increases 116pc revenue compare to FY2017-18

ISLAMABAD (APP) – Pakistan Post after taking revolutionary steps has become the most profitable public department this year by increasing 116 percent revenue as compare to the Fiscal Year (FY) 2017/18.

Deputy Chief Account Officer Revenue, Awais Ahmed said under the dynamic leadership of Federal Minister for Pakistan Services, Murad Saeed, the department earned about Rs14.5 billion this year, which was the highest profitability in all public departments.

However, he said Rs6 billion, a disputed amount with different department was yet to be recovered from years and if the matter resolved in favor of Post Office then huge amount would be added in the revenue.

He said despite 10 percent cut in the budget of the Pakistan Post with limited resources, Pakistan Post s performance was remarkable.

Awais said Pakistan Post being a public service organization had to provide its outlets in rural areas and even at those places where only two to three parcels were received.

He said the government should run the Post Office on commercial basis and convert its 13000 postal counters into franchises to reduce the expenditure of Rs22.2 billion and increase the revenue of Pakistan Post, adding the number of General Post Offices should be kept at 84.

But being a labour intensive department, the government had to induct employees in this organization on regular bases, he added.

He said Post Office was paying to pensioners from its own resources so our expenditures were high. So the department could only increase its profits if its financial resources were increased and it was given new delivery vehicles.

Zakirullah Khan, Director Media ,Pakistan Post informed that the incumbent government with limited sources introduced revolutionary initiatives in communication and information technologies likewise Electronic Money Order (EMO), mobile APP, E-Commerce Initiatives, and Same Day Delivery services.

In line with the changing communications market, Pakistan Post was emphasizing on the use of new communication and information technologies to increase its revenue.

The spokesperson of Pakistan Post said the department was committed to make secure and timely delivery of mail, money and material at the doorsteps of the customers at affordable cost.