10 ~ Wednesday, January 20, 198% - North Shore News

NEWS photo Tom Burley

Post office
attempts to
break even

CANADA POST'S new rate
schedule, introduced Jan. 4, is ex-
pected to bring ithe corporation a
step closer to breaking even on
Operating costs.

Based on projected maiting vol-
ume, the rate hike will bring in an
estimated $80 million for the cor-
poration this year.

Canada Post spokesperson Val
Rennick said the new 37-cent
silamp represents the average cost
of letter delivery anywhere in
Canada,

Following an operating deficit of
approximately $600 million in
198t, the corporation is an-
ticipating operating losses of $30
millian in 1987-88 and break even
in 1988-89.

The past year saw Canada Post
record cevenues of close to $3
billion, the highest in the corpora:
tion's history.

The corporation said the rate in-
crease was necessary to offset in-
flation pressures and a rapid rise in
houschold growth.

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