Pakistan Post making efforts to expand its scope of financial services

Pakistan Post is making efforts to expand its scope of financial services to cater the needs of its customers and specially business community.

An official of Pakistan Post told APP that Pakistan Post has introduced various financial services including Pakistan Post Savings Bank, Electronic Money Order (EMO) Service, Postal Draft, Instant Money Transfer, Money Order, Postal Order and Postal draft to achieve set targets. He said that Pakistan Post Savings Bank offers the largest network of savings bank services in the country, adding that serving on behalf of Ministry of Finance; it has been playing a crucial role in encouraging and mobilizing savings among the general populace since long.

He said that it is popular both in urban and rural areas, but its operations in rural Pakistan are wide spread and deep rooted. In fact in most of the remote areas, it is the only banking service available, he said.

He said that Postal Life Insurance also emerged as a key player in life insurance business and offered its services to every customer across the country.

The official further said Postal Life Insurance has an unbeatable presence in the rural areas due to extensive network of post offices.

He said Pakistan Post also serves as a partner with Western Union for disbursing the payments received through Western Union channel from all corners of the world, adding that Pakistan Post has been helping legal foreign exchange inflow to Pakistan.

Pakistan Post Electronic Money Order (EMO) Service allows customers for quickly transferring money within the country. Customers are able to transfer money up to Rs 100,000 through EMO Service at very nominal charges ranging from Rs 50 to Rs 600. The service is available in all 83 GPOs throughout Pakistan.