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Report highlights Pakistan Post’s bleak financial outlook


Pakistan Post’

ISLAMABAD: The Pakistan Post has witnessed a 42 per cent decrease in revenue in the fiscal year 2023-24 compared to 2019-2020.

A five-year report presented in the Senate by the Federal Ministry of Communications highlighted the falling revenues and climbing expenditures of the Pakistan Post.

According to the report, the Pakistan Post’s total revenue stood at Rs62.29 billion, whereas its expenditures soared above Rs112 billion, marking an 80 per cent increase in spendings over the last five years.

In the year 2023-24, its expenditures were 172 per cent greater than revenues.

In the financial year 2019-20, the Pakistan Post’s revenue stood at Rs15.90 billion against the expenditures of Rs26.30 billion.

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The revenue fell further in the next year to Rs15.51 billion while expenditure rose to Rs27.74 billion.

The revenues plummeted further in 2021-22 with the revenue standing at Rs14.43 billion while the expenditures decreased to Rs17 billion.

In the financial year 2022-23, the Pakistan Post’s revenue improved marginally, crossing Rs7 billion but expenditures soared to Rs18.69 billion. The fresh figures for 2023-24 showed a slight improvement in revenues which touched Rs9.25 billion, However, the expenditures swelled further to Rs22.75 billion, which paints a bleak picture of the financial health of the Pakistan Post.

The stark gap between revenues and expenditures makes it increasingly difficult for the vital public service entity to survive independently and without financial support from the government.

In October 2024, Privatisation Minister Abdul Aleem Khan asked the Pakistan Post’s management to do away with all vacant positions, cut redundant expenditures and increase revenue to ensure its survival.

He had said that day and night efforts were required to prevent the total collapse of Pakistan Post.

He had directed the Pakistan Post’s management to thrash out an emergency financial plan to financially stabilise the entity.

The minister had highlighted the government’s intent to make state institutions self-sufficient by reducing excessive expenditure and improving revenues.

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