Japan to draw up postal privatization plan by 2004

Japan aims to put together a basic plan for the privatization of its postal service by autumn next year, the Nihon Keizai newspaper said, citing Minister of Economy and Financial Services Heizo Takenaka.

Prime Minister Junichiro Koizumi yesterday urged Takenaka to see that a basic policy regarding the postal agency privatization is drawn up, Nikkei said.

The Japanese government has not presented a clear picture for postal privatization even though bills pertaining to the privatization are due to be submitted to the Diet by 2005 and the sale of the agency is scheduled to take place by April 2007, the Nikkei said.

Koizumi earlier this month vowed to sell off postal services by 2007 and public road corporations, responsible for building and operating the nation’s expressways, by 2005 if he was re-elected as leader of the ruling Liberal Democratic Party. Koizumi was re- elected on Saturday.