The Egypt Post Authority has completed the installation of surveillance cameras in 1,100 post offices so far, within the framework of its procedures to insure its offices against burglary and robbery, which recently saw an increased incidence.
The authority is also set to continue implementing the single-window system, to include all the offices affiliated to the post, which makes it easier for clients to access all services from a single window.
An official at the Egypt Post Authority said that the authority has completed installing surveillance cameras and security systems in 1,100 post offices out of a total 3,900 offices. He added that they are currently studying linking the surveillance systems together in coordination with the security authorities through a surveillance centre affiliated to the authority.
The official further noted that the authority is installing cameras inside and outside the offices, pointing out that these procedures will contribute towards limiting burglaries in offices. The total cost allocated by the authority for securing the offices is approximately EGP 50m, according to earlier statements.
In the same regard, the authority has issued instructions to heads of postal areas’ sectors and office agents, not to retain any sums of money in any postal unit that exceed the designated cash balance. If sums exceed this amount due to circumstances beyond control, the office agent is obliged to notify the security authority responsible for guarding the office.
Regarding the single-window system, the source said that the authority plans to extend the system to include all branches affiliated to the Egyptian Post. This is to meet customers’ service requirements through a single window. He added that, so far, the authority provides this system through 250 windows.
The authority’s total deposits amounted to approximately EGP 161bn at the beginning of last July, EGP 104bn of which are deposited at the National Investment Bank. The rest of investments are distributed through portfolios and treasury bills.
The authority’s deposits’ increase was due to the addition of the National Investment Bank’s commissions to the authority’s capital. Two years ago, the authority agreed to obtain liquidity amounting to EGP 400m from the bank, for three years. It has yet to receive the third instalment.
The source added that over the past months, the authority has begun investing in several ways. Currently, it manages revenues that enable it to grow and expand in offering services.
After major losses over the past years, the source said that the authority has achieved a financial surplus, amounting to EGP 200m, during the 2013/2014 fiscal year (FY). The size of its losses amounted to EGP 436m in FY 2014/2015, compared to approximately EGP 857m in FY 2011/2012.
The president approved the final budget for the Egypt Post Authority for FY 2014/2015, at EGP 29.7bn. The costs and expenses of FY 2015/2016 were estimated at approximately EGP 15.5bn, EGP 2.2bn out of which is allocated for wages, while the remaining EGP 13.4bn will go towards expenses.
Revenues for 2014/2015 were estimated at EGP 15.6bn, with a net profit of EGP 7.5m. Capital usages amounted to EGP 14.1bn, EGP 203m out of which were allocated for investments, while EGP 13.9bn were allocated for capital transfers.
