Philippine
Postal Corporation (Philpost) is the national postal services
operator in the Philippines providing postal and postal savings
throughout the country. Republic Act No. 7354, otherwise known
as the Postal Service Act of 1992 was enacted on 3 April 1992,
converted the Postal Services Office into a Philippine Postal
Corporation (PPC), a government-owned and controlled corporation
(GOCC). It is attached to the Department of Transportation and
Communications (DOTC), now to the Commission on Information and
Communications Technology (CICT) per EO 269, for purposes of policy
coordination.
Philpost
plans, develops, promotes and operates a nationwide postal system
with a network that extends or makes available, at least ordinary
mail service throughout the country. It provides for the collection,
handling, transporting, delivery, forwarding, returning and holding
of mails and parcels and like materials throughout the Philippines
and pursuant to agreements entered into, to and from foreign countries.
It also offers a wide array of postal services other than ordinary
mail and parcels, including, but not limited to, money order,
parcel post, postal savings bank, philatelic, and other types
of services which are internationally accepted as part of postal
business. Philpost is responsible for the collection, processing
and delivery of more than eight hundred million letters, parcels
and priority articles annually to more than thirty thousand lock
boxes and to some nine million residences through letter carrier.
As provided for in its Charter, Philpost has an authorized capital
stock of Ten Billion Pesos (P 10B) divided into forty five (45)
million Class “A” shares and fifty five (55) million
class “B” shares, each voting, and with a par value
of One Hundred Pesos (P 100.00). The Class “A” shares
may be fully subscribed by the Government or any of its instrumentalities,
and may only be owned, sold or bought or held by a government
entity. The Class “B” shares may be owned by private
entities and sold through tenders, public offerings, or the stock
market at such time, price or numbers as may be authorized by
the Board of Philpost.
Presently, the Government of the Republic of the Philippines (GRP)
owns the 45% Class “A” shares with a paid in capital
infusion of around P 3.2B.
Philpost has five (5) subsidiaries namely: Philippine Postal Savings
Bank (PPSB), Philippine Postal Institute Foundation, Inc. (PPIFI),
Philpost Leasing and Financing Corporation (PLFC), Philpost Realty
Development Corporation (PRDC) and Philpost Mail Management Corporation
(PMMC). Among the subsidiaries, PPSB Bank is currently operating
while the others are for dissolution. Philpost has 3,411 postal
outlets.
Philpost
is a member of the Universal Postal Union (UPU), and as such it
is required to comply with the universal service obligation imposed
on all members of the UPU under the relevant UPU Agreements, including
the provision of basic postal service to all users/customers at
all points all over the regions at affordable prices.
It
employs around thirteen thousand five hundred (13,500) employees.
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