Hong Kong to keep ‘open mind’ on options for struggling postal service
Government ‘comprehensively’ reviewing Hongkong Post’s operating model and will submit a report on the long-term road map in three years
Hong Kong authorities have vowed to develop a long-term road map for the city’s struggling self-financing postal operator and keep an “open-mind” on all options, including privatisation or turning it into a traditional department.
Acting Secretary for Commerce and Economic Development Bernard Chan Pak-li revealed the move at the Legislative Council’s economic development panel meeting on Tuesday, saying the proposed HK$4.6 billion (US$587 million) cash injection to Hongkong Post was intended to “buy time” for the reform.
Chan said the government was “comprehensively” reviewing Hongkong Post’s operating model, and would submit a report on the long-term road map for the public postal service provider in three years.
He was speaking as the authorities consulted the legislature on the plan to inject HK$4.6 billion (US$587 million) into the Post Office Trading Fund, which manages and accounts for Hongkong Post’s operations.
“This is just a short-term and transitional plan that would allow us to continue providing public postal services and buy time for our reform,” Chan said.