ISLAMABAD: Pakistan Post has suffered massive financial loss due to suspension of its operations during Covid-19, well informed sources told Business Recorder. The operations of Pakistan Post have been suspended between America, Europe including Britain and other countries due to which Pakistan Post’s international operations and Pension were terminated.
Savings Scheme, the institution has suffered a 10 percent loss in yearly earnings and the deficit has increased to Rs 60 billion.
Pakistan Post’s Income for the fiscal year 2020-2021 of five months has been Rs 3.7 billion when it was 4.2 billion last year. Because of Coronavirus and the scarcity of international flights, Pakistan Post’s international mailing services have been suspended due to which mailing services between America, Britain, Europe and several other countries have been stopped. Earnings of Pakistan Post have also suffered due to the termination of domestic operations such as pension, utility bills and Savings Scheme. Pakistan Post has suffered a 10 percent loss in earning for the current fiscal year.
Copyright Business Recorder, 2021