French postal regulator approves La Poste contract

The contract with the state which accompanies the 2003-2007 business plan of the French post office (La Poste) was approved yesterday evening by the French postal and telecoms services authority (CSSPPT). In its report, the regulator stresses that La Poste should not close any of its post offices until a substitute service has been set up. It also warns that what it calls the recurrent problem of the French post office’s pension scheme must be solved by 2005. On the other hand, the CSSPPT welcomes La Poste’s decision to become a credit provider from 2005, but also points out that new legislation is needed to enable the organisation to extend its range of services significantly — into the area of consumer credit, in particular.