The federal government has decided to lease out or rent out unused properties of Pakistan Post as currently, the department is not in deficit but it is under a heavy financial burden due to payment of pensions.
This was decided in a meeting of National Assembly Standing Committee on Communications which was held at the Parliament House on Friday under the chairmanship of Abdullah Khan.
An official of the department told the meeting the payment of pensions was not the responsibility of Pakistan Post and the institution would be saved from loss if the government fulfilled its part regarding the pensions.
He apprised the meeting the Pakistan Post was printing an envelope for Rs20 while selling the same for Rs10.
Briefing on the deficit, the official explained the department was planning to digitize 6,941 extra branches across the country. Moreover, the department had 68 franchise post office across the country and it bore a deficit of Rs250 million from branch post offices, he added.
According to Financial Action Task Force (FATF), the financial services of Pakistan Post were not subject to any regulations, maintained the official. Therefore the FATF had issued 11 out of 40 points related to the department.
He added, the department had approached Habib Bank Limited to become its super-agent on the instructions issued by the State Bank of Pakistan to fulfill the conditions of financial regulations.
He further briefed the meeting the department has introduced Express Mail Service (EMS) Plus feature for its customers.
The service aimed to enhance the quality of service for export sector companies (small & medium enterprises) and fast, reliable and economical transmission of documents for students.
The services of Pakistan Post are expanded across 80 countries of the world following the style of a private courier company.
Moreover, the department has opened its rest houses for the public across the country as well as it has formulated a new property policy, he added.
Briefing on the economical services of the department, the official said Pakistan Post was charging Rs70 for delivery service within a single day across the country while other private courier companies were charging Rs250 for the same service.
He apprised the meeting the limit of money order amount has been increased from Rs10,000 to Rs50,000.
It was expected that the department would reap profit within a year, he added.