The government has decided to revamp Pakistan Post’s financial services, re-engineer and re-visit its processes and procedures to make it FATF compliant.
This was revealed by the Ministry of Communications official while the National Assembly Standing Committee on Communications held under the Chairmanship of Ibadullah Khan.
The Secretary Ministry of Communications briefed the Committee about the implementation status of previous recommendations of the Committee.
In his presentation on the performance of the Pakistan Post from 2017 to 2020, he informed that during the financial year 2018-19 the revenue was Rs. 14.76 billion which increased to Rs.15.97 billion in 2019-2020, while expenditure for the same period increased from Rs. 23.90 billion to Rs.26.35 billion. The deficit for 2018-19 was Rs. 9.135 billion which increased to Rs. 10.37 in 2019-20.
The Committee was also briefed about working strength, employees retired and vacant posts from 2018 to 2020.
The Secretary informed that to make Pakistan Post FATF compliant, the Ministry is planning to revamp Pakistan Post’s financial services, re-engineer and re-visit its processes and procedures. The Committee directed the Ministry to share its restructuring plan of Pakistan Post, after its finalization, with the Committee.
The Bill titled “The National Highways Safety (Amendment) Bill, 2019 (Government Bill)” was considered and after detailed discussion, the Committee recommended that the Bill may be passed by the National Assembly.
The Bill titled “The Pakistan Postal Services (Amendment) Bill, 2019 (moved by Amjad Ali Khan, MNA)” was presented and the Committee decided to defer the Bill till its next meeting.