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Deliver or be sold, Post Office told
PRIVATISATION
THE Minister of Posts, Telecommunications and Broadcasting, Jay Naidoo, has raised the prospect of a privatised Post Office if restructuring fails to return it to profitability. His statement comes in a week in which the government announced further details of its restructuring and privatisation package for parastatals. Naidoo, who is also overseeing Telkom's partial privatisation, said at the National Postal Forum on Friday: "Privatisation is something we will not rule out, but this would entail bringing in a strategic equity partner to provide new capital, new technology, management expertise and access to global markets." He said he would "consider the privatisation of the postal services if the restructuring of the services is not seen to be delivering the goods. "The restructured Post Office will have to be efficient, reliable and give accessible service. If we are not equipped to do this we will bring in an equity partner." In September, Naidoo initiated a review of the postal services by appointing a technical task team to draft a discussion document which will lead to a draft White Paper by April next year and draft legislation by the second half of 1997. Naidoo also indicated he would seek to maintain the "exclusivity" of the Post Office in the letter business, in the face of stiff competition from courier services and express parcels. He warned companies operating in contravention of the existing Act, which gives the Post Office complete monopoly over letters below 2kg, but did not indicate what measures would be taken against them. He also indicated the Post Office was close to finalising its proposal to bid for the lottery licence, which is expected to be launched in 1998. Stella Sigcau, the Minister for Public Enterprises, this week reiterated the government's commitment to privatisation. She told the Deloitte & Touche annual general meeting on Friday that the full privatisation of transport company Autonet and mining concern Alexkor was on the cards and discussions with labour would take place next month with a view to finding a strategic equity partner for The Airports Company. Sigcau said the cash-strapped state-owned resort company Aventura "will be in private hands" by next year. Other state-owned parastatals in line for partial or full privatisation include Metro Rail and SAA. Sun Air could be sold by April next year.
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