Communications and Information Technology Minister Leonid Reiman announced that a “Post Bank” would be established in the process of postal service reform. Reiman added, “There will be a “Post Bank”. It will be possible to decide the place that it will occupy within the system by the end of 2002.”
Read MoreStarting as of today [10 November], the Russian Ministry of Antimonopoly Policy has introduced new tariffs for all postal services.
The tariffs for sending postcards and letters will be raised by 30 per cent. The weight charge for sending parcels of a declared value will also go up 30 per cent. At the same time, the payment for the declared value will be reduced by 20 per cent.
Russia’s struggling and inefficient postal service is in for a revamp, with government plans afoot to hike charges and plough the profits back into the system.
From Nov. 10, charges for most services offered by local post offices will rise by as much as 30 percent in what observers say is a last-ditch attempt to save the flagging postal service, which has sought salvation far from its initial mission.
EMS Garantpost, the largest Russian operator of express mail services, is intending to invest $5 mil in the development of its capacity. It is reported that the company will build a new mail processing center, purchase new equipment and create additional jobs.
Read MoreShipping and ports sector report greater growth rate. AFTER a year of crisis, followed by a year of stagnation, the Russian market for express delivery of documents and packages is now expanding by almost 25% per annum.
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