Pakistan Post suffers Rs 25 billion losses in last six years

ISLAMABAD, Pakistan: Pakistan Post Office Department (PPOD) had endured Rs 25,060.275 million losses from 2009-10 to 2014-15 as its expenditures during 2009-10 to 2014-15 were Rs 52,104.243 million.

According to an official document, showing PPOD’s 10 year revenue record, it had failed to earn any profit since the last six financial years.

PPOD had earned Rs 133.532 million profits in 2005-2006, Rs 153.804 million in 2006-7, Rs 128.798 million in 2007-08 and Rs 404.199 million in 2008-09.

PPOD had started enduring deficits in FY 2009-10. The department had endured Rs 25,060.275 million losses from 2009-10 to 2014-15.The expenditures during 2009-10 to 2014-15 were Rs 52,104.243 million.

The department had suffered Rs 145.890 million losses in 2009-10, Rs 1,893.104 million in 2010-11, Rs 4,258.540 million in 2011-12, Rs 6,588.540 million in 2013-14 and the department had endured Rs 6,331.066 million deficits during financial year 2014-15.

According to the details of revenues earned by PPOD from financial year 2005-06, the department had earned Rs 4,948.790 million revenues in 2005-6, Rs 5,642.845 million in 2006-07, Rs 6,239.464 million in 2007-08, Rs 7,725.408 million in 2008-09, Rs 8,385.227 million in 2009-10, Rs 8,331.576 million in 2010-11, Rs 8,249.885 million in 2011-12, Rs 8,337.446 million 2012-13, and Rs 9,126.597 million in 2013-14.

Giving details of expenditures incurred on PPOD during financial years 2005 to 2015, the document said a sum of Rs 4,815.258 million was spent to meet various expenses during 2005-06, Rs 5,489.041 million in 2006-07, Rs 6,110.666 million in 2007-08, Rs 7,321.209 million in 2008-09, Rs 8,531.117 million in 2009-10, Rs 10,224.680 million in 2010-11, Rs 12,508.425 million in 2011-12, Rs 14,180.581 million in 2012-13, Rs 15,715.137 million in 2013-14 and Rs 16.004.578 million was spent during 2014-15.

Source: APP