Postal activities up in 2004 [Archives:2005/820/Business & Economy]

February 28 2005

Ismail Al-Ghabiri
The General Corporation for Post and Postal Savings (GCPPS) in Sana'a approved of the final statement of the Postal Saving Fund, which paves the way of distributing interest from 2004 to clients, who number up to 178,755 with a total credit of YR 5.3 billion.

In a statement to the Yemen Times, Mohammad Murghem, General Manager of the GCPPS, pointed out that postal services and income increased in the last year.

He said the rate of deposit grew by 23 per cent in 2004, while the amount of exchange of deposited money rose by 42 per cent, reaching YR1.3 billion, compared to YR 1.1 billion in 2003.

A report drafted by the GCPPS indicated that the credits of clients who deposit for interest came at 81 per cent of the total credits of clients, while 19 per cent is the rate of the credits of those depositing for interest-free.

The report also pointed out that 2004 was characterized by relative stability in the postal activities in many postal areas, particularly as the capital's post office had the highest rate in the exchange of deposited money.