To make post offices more viable, a high-level task
force on leveraging the postal network has
recommended setting up business units in
e-commerce, distribution, banking and financial
services and insurance sectors, under the overall
supervision of the department.
The recommendations, released on Thursday by the
panel led by TSR Subramanian, also propose to
enact a new law enabling the creation of the
holding company which will control the various
subsidiary business units.
Union minister for communications and IT, Ravi
Shankar Prasad, said that no jobs will be lost while
restructuring, and that there would be no hike in
cost of postcards despite escalation of losses.
“With the immense reach the postal system in rural
India, it serves the poor. In no case will we be
hiking the prices of these services. We will act
speedily on these recommendations to enhance the
revenues,” Prasad said.
The department last undertook tariff revision in
2002, with post cards still costing 50 paise even
though 50 paise coins are out of circulation.
“During 2007-08 and 2011-12, revenues earned by
the DoP increased by 43 per cent while the
expenditures went up 96 per cent,” he said.
indianexpress.com/article/business/business-others/panel-for-banking-insurance-services-by-post-offices/
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