The Pakistan Post has suffered a loss of Rs61 billion in the last 10 years.
According to reports, the Ministry of Postal Services, while presenting statistics regarding organisation’s performance, told the Senate Standing Committee that the institute faced a loss of Rs140 million in year 2008-2009 and this loss swelled to Rs10 billion in 2018-2019.
The ministry while explaining the causes of this huge loss
said that the increase in pay, allowances and pension benefits was a major
contributor to widening gap between expenditure and revenue.
They said that the Finance Division had decreased the rate
of post office commission in Savings Bank Scheme from 1.56% to 0.50% in
October, 2010 which reduced the receipts of the institute.
The panel’s chairman Senator Mian Ateeq observed that the situation of the postal service was no different from the Pakistan International Airlines (PIA) – the national flag carrier –facing huge losses since over a decade.
The chairman also suggested that the operating expenditure
against income must be added as well. While reviewing recruitment discrepancies
during previous regimes, the panel recommended that Pakistan Post must focus on
figures.
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