JEDDAH, 11 June — The Council of Ministers yesterday approved moves to transfer the state-run postal services to an establishment jointly managed by the public and private sectors.
The Cabinet, meeting under Prince Abdullah, the regent, also agreed to transfer all assets of the General Post Department to the Saudi Post Establishment which it decided to set up, Information Minister Dr. Fouad Al-Farsy said in a press statement following the Cabinet meeting.
The Kingdom’s top economic policy-making body, the Supreme Economic Council (SEC), headed by Prince Abdullah, had approved the move last week among a series of decisions designed to speed up the pace of privatization in the Kingdom.
The SEC also approved a new privatization strategy with the aim of accelerating the process of economic development.
The Cabinet formed a government committee to evaluate the assets and liabilities of the postal department. It also decided to transfer all employees to the new establishment keeping the same benefits.
The measure is seen as a step toward fully privatizing the postal services.
The Cabinet again called on feuding rivals India and Pakistan to exercise restraint and hold peace talks.
“The Cabinet reiterates its call for India and Pakistan to exercise restraint, (show) wisdom in resolving their dispute and open negotiations to end the crisis,” said a statement issued after the weekly Cabinet meeting.
The regent briefed the council on his recent efforts to strengthen the Arab unity including his meetings with Moroccan King Muhammad VI, Jordanian King Abdallah and other heads of state. These efforts aim at solving the issues of the Ummah, particularly, the Palestinian issue in compliance with the legitimate international decisions, Al-Farsy added.
