First News
Volume:7, Number:35
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THIS WEEK

Post Office's Financial Deficit Grows Bigger, Hitting BDT3.71 Billion in 2016

| Navid Ahmed |

Bangladesh Post Office (BPO), the national postal service, incurred a bigger financial deficit in the last fiscal year (FY16). The latest annual report of the BPO showed that its total revenue earnings increased to BDT2.94 billion in FY16 from BDT2.53 billion in FY15. At the same time, expenditure of BPO jumped to BDT6.64 billion in the last fiscal year, which was BDT 4.87 billion in FY15. Thus, financial deficit or loss of the service rose by BDT1.37 billion to BDT3.71 billion in FY16 from BDT2.34 billion in the previous fiscal year.

More than 75 percent of the BPO’s revenue income came from different commissions for agency services. In the last fiscal year, income from agency commission stood at BDT2.21 billion, even as it was BDT1.75 billion in the previous fiscal year. Salaries, allowances and pension payments cover around 90 percent of the total expenditure. In the last fiscal year, salary expense jumped to BDT2.46 billion from BDT1.65 billion, while payment for allowance stood at BDT1.61 billion from BDT1.50 billion. Again, BPO spent some BDT1.85 billion as pension and gratuities in the last fiscal year, as against BDT1.08 billion in FY15.

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