Saudi postal service to go private in 2018: Minister

Saudi Arabia will start privatizing Saudi Postal Service Co. in 2018, Aleqtisadiah newspaper has reported citing Minister of Communications, Abdullah Al Swaha.

The privatization process will proceed in three phases: Running the current model with a private business mentality, adopting new services (including parcels and ecommerce) and diversifying into logistics and integrated services.

“The postal service revenue is slowing down worldwide, so we shall convert to the new postal system and models”, he added.

Saudi Arabia is pursuing a radical privatization drive across several sectors of the economy, as part of wider economic reforms to wean economy off oil reliance.