Last year, the department posted a revenue figure of Rs.13.6 billion, recording a loss of Rs.3.2 billion.

Elaborating on the department’s new outlook as a business service provider from a public service provider, Postmaster General Ruwan Sathkumara said that the department has initiated strategic collaborations with the private sector, in order to bridge the revenue gap and reach breakeven.

The department secured an agreement with global logistics and package delivery company United Parcel Service, Sathkumara said.

“Traditional postal services are witnessing a global decline in usage but there’s a notable demand for business postal services, cash on delivery (COD) and EMS services. COD services in particular, have the potential to capture 20-25 percent of the market he added.