Economy

Postal Dept. operating loss up 8% to Rs.5 bn

12 Apr 2013 - {{hitsCtrl.values.hits}}

The Department of Posts (DOP) incurred a substantial operating loss of Rs.5 billion during 2012 which was an increase of 8 percent as against the previous year, following a 52 percent increment in 2011, the Central Bank’s annual report 2012 stated.

The report explained that this was the outcome of a modest increase of total revenue by 4.6 percent to Rs. 3.3 billion and a higher 6.6 percent in operating expenditure to Rs. 8.3 billion. It further stressed that DOP should consolidate its revenue by diversifying services and containing its expenses to reduce its burden on the national budget.

Meanwhile 61 estate post offices have been closed down during 2012 since they did not generate sufficient revenue to sustain operations. Also 53 agency post offices have been newly established, the report revealed.

However it is noteworthy that DOP provided several new and value-added services, in order to diversify and expand services in line with advanced technology, such as a 4-hour courier service in Colombo and the suburbs.

The DOP continues to serve through 4,738 post offices island wide. They comprise of 657 main post offices, 3,411 sub-post offices, 516 agency post offices, 156 rural agency post offices and 4 estate post offices.

Economy

Postal Dept. operating loss up 8% to Rs.5 bn

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