Pakistan Post to Become The Country’s Biggest Banking Channel

Pakistan Post (PP) is well on its way towards becoming the country’s largest banking network by the end of 2020, Minister for Communications Murad Saeed has claimed.

During the question hour at the National Assembly, the Minister apprised the lower house that PP is linked with 15,000 kiosks of NADRA for biometric verification which will be beneficial in disbursing remittances and making payments of Ehsaas program and other similar programs.

Pakistan Post’s home delivery service will be launched by the end of February. Moreover, the Ministry for Communications will establish 125,000 franchises in the next two years to create employment opportunities in the country.

Pakistan Post’s losses of Rs. 52 billion have been reduced significantly thanks to the reforms taken by the PTI government, the Minister briefed the session.

Some of the reforms implemented by the PTI government include:

  • Introduction of a system to live track shipments.
  • EMS plus survey for shipping parcels across the globe in 72 hours.
  • Same day delivery of parcels across Pakistan.
  • Delivering remittances without charges using 12,000 Post Offices across the country.
  • Entering into the E-commerce sector.
  • Entering the fin-tech market worth Rs. 200 billion.
  • Improving the UMS services.

Murad Saeed told the house that there is no regulatory body to oversee the private couriers companies in the country.

In this regard, the Ministry of Communications will soon table a bill, which had already received the green signal from the Senate in the National Assembly for the formation of a regulatory body.