Government Postponed Privatization of Georgian Post

The privatization of the Georgian Post has been postponed. The government plans to work on the process of alienating the country's largest postal company next year.

The government will offer investors to invest money in a Georgian company in 2021, but under certain conditions - a private investor will be obliged to provide postal services to people living in rural and high mountains.

Georgian Post owned 87 million GEL in 2018. How the company’s assets and financial performance changed in 2019 is still unknown. The company has not published any financial statements.

''We had a plan for its privatization of the Georgian Post, we even started working on it, an international audit was convened by us to evaluate it because the main task was to plan the privatization in such a way that social issues were considered. People living in different parts of the country should definitely be served mail and this should have been an obligation for the investor, however, the pandemic has changed our plans to some extent. We think it is better to return to the issue next year when the business environment will improve, "said Natia Turnava, the Minister of Economy, commenting on the issue.