Hongkong Post applies to Hong Kong’s legislature for HK$4.6 billion in government support to sustain operations for the next three years and address key infrastructure needs. In a paper submitted to the Legislative Council by the Commerce and Economic Development Bureau on Wednesday, the government-owned postal operator outlines a projected funding requirement linked to ongoing financial pressure and falling demand. The documents describe eight years of losses and a continued decline in mail volume, contributing to a worsening fiscal outlook for the Post Office Trading Fund (POTF), which has operated on a self-financing basis since 1995.
Both outlets report that the proposed package would provide a financial “lifeline” to keep Hongkong Post running while it covers planned refurbishments, including work associated with the Air Mail Centre. The submissions set out the rationale for the funding and the scale of the problem, aiming to secure legislative approval before the money is disbursed. The requests are now subject to review through the LegCo process, including the relevant panel’s consideration.
