Postal service's profit up

JAKARTA (JP): The state-owned postal firm, Perum Pos dan Giro, yesterday reported a 2.1 percent increase in profit to Rp 51.06 billion last year to Minister of Tourism, Post and Telecommunications Joop Ave.

The postal service's finance director, Djaelani Hidayat, said that last year's profit, up from Rp 50 billion in 1992, was far higher than the company's target of Rp 47 billion.

He also said that most of last year's profit was derived from letter mailing, followed by money transfers and package mailing.

"This year, we expect to gain a total profit of Rp 53 billion," Hidayat said, adding that the increase is quiet small due to stiff competition with the private courier firms offering package delivery.

In a related development, a source at the ministry said yesterday that the postal service will shift its status from a public services firm to that of a company more oriented to making profits early next year. The source also said that the arrangements for the change have been analyzed since late 1993 and that the Ministry of Finance has approved the shift in status. (icn)