New postal rates in force from next Monday |22 January 2009

It is also increasing the charge for lock deposits for letter boxes, though the rent for letter boxes stays the same.

In a press release yesterday, it said the cost of collecting, processing, sending and delivering mail has increased significantly since the last review of the postage rates for letters and packets in 2003.

The rates for parcels were last reviewed in 1995-6 and for the express mail service in 1991.

The Post Office pointed out that the Seychelles rupee has lost value in relation to the special drawing right (SDR) and major world currencies, which has affected the prices of most goods and services, including airmail conveyance to the major international destinations.

This has meant that with postal rates remaining unchanged, the net revenue margin of the Postal Services Division has been constantly narrowing and risks shrinking further, with the forecast indicating that current trends will continue throughout 2009 and even beyond.

The Post Office said that in the context of its proposed reform, a review of rates is justified to make sure it can meet rental, depreciation and other costs.

This, coupled with increasing demand for postal services development and modernisation, demands sustainable investment in the postal service infrastructure in future.

A leaflet showing the new rates is available at the Post Office in Victoria.