In 2011 national postal operator of Azerbaijan can start operating with profit

The Ministry of Communications & Information Technologies of Azerbaijan suggests increase of subsidizing for postal sector.

At a Cabinet Ministers session held yesterday Ali Abbasov, the communications minister, said that for January-June 2008 postal sector earnings grew by 30 pct.

“Azerbaijan still encounters difficulties that are distinctive for post-Soviet countries. To ensure profitability and high proceeds of postal institutions they should be equipped with modern electronic and transport systems. With this purpose the country has been realizing Financial Service Development Project since 2005 with support of World Bank. The project completion is scheduled for late 2008 and already next year it is planned to launch new services. But switching to profitable use of new services will be carried out for the next two or three years,” Abbasov said.

The minister proposes to increase subsidizing for postal sector to ensure its profitability.

For the last two years Azerpocht (national postal operator) is financed state investments of AZN 2-3 million annually. If for the next two years subsidizing for postal sector are increased, then according to our estimates, Azerpocht will start operating with profit since 2011,” Abbasov said.