POS Malaysia & Services Holdings Bhd hopes to set up between four and six postal outlets at Petronas petrol stations by the end of the year. Pos Malaysia, which signed a memorandum of understanding (MOU) with Petronas Dagangan Bhd yesterday, said it has also agreed to explore the possibility of opening up to 30 such co-location outlets a year.
Read MoreThe nation’s Post Office will be required to share the burden of public fund losses with banks and other financial institutions over the next 25 years.
Announcing a draft bill on the payment of unrecoverable public funds yesterday, the Ministry of Finance and Economy said the Post Office will be forced to pay about 45 billion won yearly until 2027 under the burden-sharing plan.The annual burden is equivalent to about 0.1 percent of the Post Office’s customer deposits and insurance assets, which are currently estimated at 47 trillion won.
The 47 trillion won breaks down into 30 trillion won in deposits and 17 trillion won in insurance assets.
The office has never paid any deposit insurance premiums to the state-run Korea Deposit Insurance Corp. (KDIC) since its customer deposits and insurance assets are guaranteed directly by the government.
The government is considering a review of the subsidy on postal services and products. At present, a plain postcard priced Re 0.50 is subsidised by Rs 5.55, while printed post cards carry a subsidy of Rs 3.81. As a part of the government policy, postal services in India are highly subsidised
Read MoreThe State Council has suspended certification requirements for express operators working on the mainland, but carriers are viewing the move as temporary and subject to change.
The council shelved a mandatory “entrustment” demand that would have forced China Post competitors – domestic and foreign – to charge more than the state carrier for transporting parcels more than 500 grams.
The mainland’s highest body did not set a new deadline for the certification.
An industry executive said: “The council released a memo stopping enforcement of entrustment requirements with immediate effect until next year’s company registration in April.
“We don’t think the suspension is open-ended; we expect new announcements. But things as they sit now effectively make the State Post Bureau the regulator of international freight forwarders and express operators.”
In a memo to the State Post Bureau on July 4, the council set a definition for private letters – delivery items the bureau considers to be in its exclusive domain.
The State Council has suspended certification requirements for express operators working on the mainland, but carriers are viewing the move as temporary and subject to change.
The council shelved a mandatory “entrustment” demand that would have forced China Post competitors – domestic and foreign – to charge more than the state carrier for transporting parcels more than 500 grams.
The mainland’s highest body did not set a new deadline for the certification.
An industry executive said: “The council released a memo stopping enforcement of entrustment requirements with immediate effect until next year’s company registration in April.
“We don’t think the suspension is open-ended; we expect new announcements. But things as they sit now effectively make the State Post Bureau the regulator of international freight forwarders and express operators.”
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