Stamp of approval sought on HK$4.6 billion lifeline for struggling Hongkong Post

Stamp of approval sought on HK$4.6 billion lifeline for struggling Hongkong Post

Hong Kong authorities are seeking to inject HK$4.6 billion (US$587 million) into the government-owned postal service provider to sustain its operations for the next three years, following eight years of losses and declining mail volume. A document submitted to the Legislative Council on Wednesday by the Commerce and Economic Development Bureau showed a bruising fiscal trajectory for the Post Office Trading Fund (POTF) of Hongkong Post since 2017…