XN000022-1971-02-24 — Page 11

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Wednesday, February 24, 1971

INCREASE EXPECTED IN POSTAL REVENUE

Revision Of Structure Of Overseas Postal Charges

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Sir John Cowperthwaite, Financial Secretary, said today Post Office

revenue in the next financial year were estimated at $25 million, or 15 per

cent higher than in 1970–71.

But be told the Legislative Council the figure exaggerated" the

real increase in traffic on which the eatinete was based, because the revised

estimate of revenue this year had been adjusted for the postal strike in the

United Kingdom "probably, with the prolongation of the strike, inadequately

adjusted."

Ho went on: "I should like to mention here that we shall be

revising the structure of our overseas postal charges next year, largely in

consequence of certain developments which took place at the recent Congress

of the Universal Postal Union, and also to bring our charges more closely

into line with our obligations under the Union.

"Some rates are likely to go up and some down, but the net effect

on Post Office revenue is unlikely to be substantial."

/12.