‘We must sweat our assets’: Scindia says post offices may lease out buildings as govt eyes profit push

Jyotiraditya Scindia, the Union Minister, announced a strategic shift for India's post offices, revealing plans to lease out their buildings in a bid to enhance profitability. Speaking at a recent event, Scindia emphasized the need to "sweat our assets," indicating that maximizing the utility of existing resources is key to the government's profit push. This move is part of a broader strategy to modernize and financially empower the postal network, which has been a cornerstone of communication in the country for decades. The restructuring involves organizing post offices into six verticals: mail, parcels, financial services, customer services, e-commerce, and government services. These verticals aim to streamline operations and improve service delivery, ensuring that each segment can operate with greater focus and efficiency. By leasing unused or underutilized spaces, post offices can generate additional revenue, supporting their core functions and contributing to the national economy. In addition to the verticals, the restructuring includes four horizontals designed to integrate and support the verticals through technology, infrastructure, human resources, and marketing. This comprehensive approach is expected to make the postal system more adaptable to changing market demands. By leveraging its vast network and infrastructure, the postal department hopes to not only boost its revenue streams but also enhance service quality and accessibility for millions of Indians.

— Authored by Next24 Live