€100 million to be allocated for state postal company from National Investment Plan

Serbian Minister of Finance Mladjan Dinkic announced today that €100 million within the National Investment Plan will be allocated to the state postal operator, according to the agreement reached between the government and postal company PTT Srbija.

Dinkic told at press conference that the government’s clause for this grant was that the funds should be spent for investing. The first part of the amount equating €42 million has already been paid out, while the rest will be transferred by June 30, 2007, Dinkic said.

He noted that €33 million will be spent for the main postal centre in Serbia, while €8 million will be spent on PTT’s voluntary pension fund.

PTT Srbija Director Dragan Kovacevic announced that a 15,000 square metre hall with machines for automatic mail classification will be built in Belgrade.

Serbia is among few countries that classify letters, catalogues and parcels manually, which is why we plan to complete renovation of all postal offices in Serbia by 2008 and introduce complete automation of mail processing, he said.