Money
order available, but few takers
The
Department of Post, which has been operating a little-used
international money order service, is trying to go international
this year. The target clients are Cambodian communities overseas.
Loh
Vannaran said that the post office has an advantage over the private
sector because of its local network to channel the flow of funds
between overseas senders and
local receivers.
The
marketing director at the ministry of Posts and Telecommunications
said competition would come in provincial
capitals where there are banks, which the two private layers
can use.
The
post office service, he said, would rapidly expand even to the
districts and to villages unlike the higher-budget banking
services.
But
Loch Vannaran admits that the service lacks funds to promote the
facility, and thus would have to depend on word-of-mouth promotion.
The
service between provinces and here was started in middle of 1999,
but response has been lukewarm.
Phnom
Penh now receives between three to 10 transfers a month, but the
outflow is between 17 and 20.
But
Pailin received between 21 to 30 transfers a month.
Money
is sent five times a week, and will take about three days to reach
the destination.
The
service will accept up to R500,000 per transfer, but state
institutions may send as much as R15 million in one transfer.
He
said individual customers account half the business, with the state
contributing 30% and non-governmental organizations 20 %.
Overall,
the postal service saw a 12.46% decline in business last year
compared to the earlier year, which showed a 15.61 %rise.
Of
the 2.8 million items handled, 96% were overseas mail.
Only
30% of the customers were individuals, while the real were
non-governmental organizations, a potentially lucrative service held
down by the lack of promotion
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