No plans for privatisation of TTPOST

The Minister of Public Utilities has supported the statement made by TT Post Chairman that there are no plans to privatise the organization.

In a statement from his office, Public Utilities Minister Senator Robert Le Hunte, says, the business model of TT Post needs to change. He notes that the advancement of digital technology has changed market conditions in the postal industry across the globe. And as such, TT Post, like other national postal services, needs to engage in a transformation exercise to adapt to the changed environment.

He affirms Government recognition of TT Post’s obligation under the United Postal Organization Convention to provide an efficient mail delivery service to the population, and wishes to assure the public that the organization’s transformation will enable it to carry out this and other services, more efficiently.

That efficiency, Minister Le Hunte says is needed so that, not just TTPost, but all the entities under the Ministry’s purview can reduce their dependency on the state, especially in light of the country’s current economic position.

The Minister agrees with the articulated position that the employees of these utilities may be best positioned to share insights on improving the operational efficiency of their respective agencies.

It has with this focus that the Minister, since assuming office, has met with several union representatives of the entities under the Ministry’s purview, with a view to exploring ways to increase efficiencies, reduce costs, and increase revenues. The Management and Boards of these entities have also been in regular contact with union representatives, and have provided the Ministry of Public Utilities with consistent feedback.

Minister Le Hunte continues to emphasize the point that given the country’s economic circumstances, it cannot be business as usual. He continues to encourage the entities under the Ministry’s purview to explore mechanisms to improve efficiencies, reduce operating costs and increase revenues.

This, he says, is the primary motivation behind the transformation exercise being undertaken by TT Post, which will result in the organization’s viability and profitability.

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