Electronic mail, text messages and other social networking means are affecting TTPost, says Public Utilities Minister Emmanuel George. George was piloting the T&T Postal Corporation Amendment Bill in the House of Representatives yesterday. This seeks to vest several properties in TTPost which George said would help decrease costs.
George said TTPost had expanded its delivery rate and has 91.4 per cent coverage of T&T, which was on par with international levels. He said TTPost had obtained an 86 per cent approval rating in a 2011 Mori Poll. Noting losses since 2004, he said it continued to be challenging. George said cell phone text-messaging, e-mail and other social networking methods were now the preferred communication.
He said letters can also be sent via e-mail and photos and other documents can be scanned onto social networks. "The proliferation of couriers providing home delivery for Internet shoppers are all having an impact on TTPost's competitive position," George said.
He said the global recession had affected TTPost, as also the UK's Royal Mail and the US Mail service, both now struggling. Without appropriate survival mechanisms, he said, this was a position in which TTPost could also find itself. He said the company had added new features including TTPak, but this also faced competition from various areas.
George said the previous postal entity in previous years had required a $14 million subsidy from Government. TTPost was formed with a US$14 million injection and subsidies dropped. But George said subsidies again crossed $14 million in the period 2010 to 2011. He said 56 properties were supposed to have been vested but thus far only 47 had been assigned.
He said TTPost has 22 locations which it rents and the vesting of properties would allow cost savings of $284,000 monthly. He said 2010­-2016 business plans had been approved for TTPost and audits were being done on its 2008­-2010 annual statements.
Also during the session Sport Minister Anil Roberts read out the lengthy answer to an Opposition question seeking information on funding expended by the Sportt Company of T&T during May 1 to December 1, 2011 for national sporting groups, community groups, athletes and other organisations.
Roberts said sporting groups received a total of $12.8 million, community groups, a total of $269,576.72 and athletes, a total of $18 million. Itemising recipients, he noted groups in several PNM constituencies from north to south were among beneficiaries.