Postal Department receives Tk 11.2m as earnings from Nagad

Nagad, the state-owned mobile financial service, on Sunday gave Tk 11,215,576 to the postal department as part of the earnings.

Tanvir Ahmed Mishuk, managing director of Nagad, handed over a check to Posts and Telecommunications Minister Mustafa Jabbar at a function in the Postal Building of the Postal Department, said a statement.

Nagad gave the amount to the Postal Department as part of the services revenue, which was regarded as the latter’s net income for the last fiscal year (FY20). The Postal Department received this additional income just a year and a half after the journey began with Nagad.

It is a unique example for the postal department to get a share of the income without any investment as a result of the public-private partnership.

Posts and Telecommunications Minister Mustafa Jabbar expressed his satisfaction over the success of the state-owned digital financial service.

“This is a historic moment. I never thought that the postal department can bring such an achievement. And I am observing that the advancement of the postal department started with Nagad. I also believe that the postal department will turn around in the future with this path of Nagad. The almost impossible task has been made possible by the venture combining the innovation of private entrepreneurs with government support in the form of public-private partnership”, he said.

Tanvir Ahmed Mishuk, managing director of Nagad, said, “From the very beginning, we have designed our service structure with the utmost importance on citizens' needs. That is why Nagad has been able to come up with the latest services at the lowest cost. As a result, the Asian-Pacific Postal Union recognized Nagad as the world's fastest-growing digital financial service within a year of its launch. The day is not far away when the reputation of the postal department of the country will spread all over the world through Nagad. And Nagad will be the country's national digital financial services company.”

Md Nur-Ur-Rahman, secretary of the Department of Posts and Telecommunications, Sudhangshu Shekhar Bhadra, director general of the Directorate of Posts, and senior officials of Nagad were present at the progamme.