Minister of Housing and Transport JoBeth Coleby-Davis, who has responsibility for the Post Office, said the government is still committed to improving family island banking through the Post Office Savings Bank (POSB).

Modernizing the POSB has been on the government's agenda for some time now, as a form of secure banking for residents on the Family Islands, where commercial banks in recent years have closed their brick-and-mortar operations.

Coleby-Davis told Parliament this week that efforts to improve the operations of the Post Office Savings Bank will also be given significant attention in the upcoming budget period.

"Given the complaints we have heard from several Family Islands about the lack of banking services, the Post Office Savings Bank is being reviewed as a viable option to fill the gap created by the absence of commercial banks," she said.

The Elizabeth MP continued, "We recognize that the Post Office Department has the potential for further growth and development. A major plan for the department in this budget year is the development and creation of an automated counter and parcel delivery operation, to facilitate electronic payment transactions and online purchasing; along with track and tracing capabilities. I am advised that revenue intake from this operation in the first three years can exceed $3 million."

Coleby-Davis said efforts will also continue in the next fiscal year to refurbish and renovate post offices on New Providence (Fox Hill, Carmichael Road, and Cable Beach) and in the Family Islands (Rum Cay, Grand Bahama, and Abaco).

"Plans are in motion for the redesign of the Post Office building in Grand Bahama to accommodate other government offices. This redesign will result in a multi-purpose facility and will alleviate paying rent for several government buildings," she said.

"With reference to the new General Post Office building, I can advise this house that plans are in progress. The new Post Office will include additional services, for example courier services which will allow international packages to be delivered to your mailbox."

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