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.
THE Union Minister for Communications, Mr Ram Vilas Paswan, has stressed the need for adequate training and continuous watch over public grievances.
Read MoreThe postal ministry of Japan has come out with drastic measures as a counterproposal to Prime Minister Junichiro Koizumi’s plans to privatise postal services. Reports from The Asahi Shimbun newspaper say it has obtained documents showing the Ministry of Public Management, Home Affairs, Posts and Telecommunications is attempting to substantially improve the inefficient nature of postal services -mail delivery, postal savings and postal insurance -although it falls short of accepting privatisation.
The services are expected to be converted into a public corporation in April 2003. However, the details of how this will be done remain under wraps.
The State Postal Bureau (China Post) is struggling to become profitable as it adapts to the market economy. Once the most profitable government arm, the bureau has suffered huge losses in recent years as people increasingly turn to the telephone and e-mail for communication instead of writing letters.
Starting next year, the bureau will have to survive without any government subsidies or assistance from associated companies in the telecoms sector. The bureau aims to become profitable over the coming year. The EMS (express mail service) business is the major revenue source of China Post, but is under severe competition from international and domestic delivery companies.
Read MoreMost people are not in favour of the State Postal Bureau’s monopoly of the nation’s postal system, according to a survey report issued by the Economic Monitory Centre with the National Bureau of Statistics last week. The survey also found that most people (64.3 per cent) were satisfied with the Express Mail Service (EMS) offered by the bureau.
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