Pakistan Post Office to take over deposits of 350 branches of United Bank
Pakistan Postal Department will take over the deposits
of 350 branches of United Bank, which are being closed in various
parts of the country, particularly in rural areas. “We have entered into agreement with the Bank in order to continue
providing the banking services in the area where they are winding up
their business,” said the Minister for communication Lieutenant
General (Retd) Jawed Ashraf Qazi. He told APP here on Tuesday after presiding over a meeting of the
Pakistan Post that the Department is engaged in expanding its
banking service network in order to facilitate the general public
and promote its business activities. Besides carrying on its own banking service, the Post Office will
open separate counters at its branches to handle the deposits and
other working of the Commercialised Bank. The profit to be earned on the deposits will be shared by the Post
Office and the concerned Bank. This, he said, is the part of the government’s initiatives to help
the general public promote their investments. The Post Office, he said, is also planning to provide banking
service to the overseas Pakistanis. A contract is being made with
the Western Union under which anybody from abroad will have the
facility to send money directly through internet to post offices. The Post offices will deliver amount to relevant person the same day
by charging a marginal commission. This new system will not only curtail the problem of people but also
discourage hundi system, he added. He said postal employees are being provided computer training so
that they could help in carrying out modernisation plan of the Post
Office. An elaborate training programme has been prepared for this
purpose, he added. The Post Office Department, the minister further said, has decided
to introduce E-mail service on nominal charges for its clients in
the major cities. He said the post office department earned a profit of Rs 220 million
during the last financial year. Director General Pakistan Post Major General (Retd) Agha Masood
Hassan gave a detailed briefing on the working of the Post offices
and their development projects. More than 48,000 employees are working in the postal sector who are
being trained to take up new responsibilities of the modern age. With regard to provide maximum civic amenities, he said, the
United Bank Limited will set up 87 counters in various Post
Offices in the country from where the utility bills will be paid,
and the overseas Pakistanis will be able to send money to
Pakistan.-APP
Copyright 2001 Business Recorder. Source : World Reporter (Trade
Mark)BUSINESS RECORDER, 18th July 2001
