The Minister of Planning and Infrastructure said today that the closure of Post Office branches, especially those in countryside areas, "is the wrong strategy."
Pedro Marquês added that "unfortunately" there is no way that he can doing anything about the situation as the CTT Post Office business was sold off by the government and now is in private hands.
Marquês was speaking at a State Budget 2019 meeting and, in reply to Left Bloc MP, Heitor de Sousa, who asked about the branch closures, said he was in disagreement with the CTT board’s strategy.
"I think the wrong strategy, unfortunately I do not have the instruments today that I would like to have to act on that matter."
Faced with the statement of the minister who does not have the necessary instruments to
"I do not have the tools because the company was 100% privatised by the right-wing government,” added the minister.
The privatisation of CTT, which yielded only around €900 million to the Treasury, was carried out in two installments - in 2013 and 2014.
The first generated €579 million (70% of the share capital at €5.52 per share) and the second raised €343 million (30% of the share capital, held by Parpública, at a price of €7.25 per share).
The management has embarked on a branch closure and redundancy programme that has not found universal approval, not least with the shareholders with today’s closing price just €3.38 per share.
