Postal department to develop its land bank

Postal department to develop its land bank

Mumbai: The Department of Posts is looking to develop the unutilised land under its occupation and lease it to private firms for their operations, a top official said today.

“We have close to thousand plots of two acres each throughout the country. We are looking at the PPP (public-private participation) model to develop these plots with private players and put them for commercial use," DoP Chief General Manager S Samant Department of Posts told PTI.

The postal department is talking to the government to get the necessary approval. “We are talking to the government to let us follow this plan," he added.

A special purpose vehicle would be formed for the purpose and the land will be leased out to the private players in future once the department gets permission, Samant added.

The DoP is also planning to utilize its expansive pan-India network for distribution of consumer goods and pharmaceutical products.

“A few pharma companies have expressed interest in using our network to reach out to every nook and corner of the country," Samant said.

The postal department is already into the distribution of financial products like mutual funds and micro credit for institutions like SBI.

“We have 570 administrative officers, 46 store depots and 19 stamp depots, these areas are interesting areas for new retail opportunities,“ he said.

On an average, to every 5,686 rural population, there is one post office and the number is close to 19,768 to one post office in the urban landscape.

“We will be close to one lakh post offices by the 11 five year plan and as a result our network becomes even more far reaching," Samant explained.