(MENAFN) As part of a privatization process he indicated could take several years, the head of Saudi Arabia's government-owned postal service said on Wednesday the institution was setting up new distribution centers.
As part of wider economic reforms aimed at boosting efficiency and easing pressure on state finances in an era of cheap oil, the kingdom is launching a privatization drive in many sectors.
Saudi Postal Corp, which has more than 10,000 employees, sent a request for proposals to local banks in January.
Telecommunications minister Mohammed al-Suwaiyal last year said that its privatization was likely to start by early 2017.
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