New Zealand Post

New Zealand Post is a state-owned enterprise responsible for providing postal service in New Zealand.

History

The company was created on 1 April 1987 as a state-owned enterprise from the corporatisation of the New Zealand Post Office, a government department, following the recommendations of the 1986 Mason-Morris Review. The other state-owned enterprises formed from the New Zealand Post Office, the erstwhile monopoly telephone operator (Telecom Corporation of New Zealand Limited), and a savings bank (PostBank), were later privatised.

New Zealand Post began its life with 1,244 post offices, later rebranded as PostShops. Of these 906 full post offices and 338 postal agencies, 600 post offices or bank branches were downsized or closed after government subsidies expired in February 1988. As of March 1998, there are 297 PostShops, and 705 Post Centres. However, there are now more outlets than before corporatisation, with 2,945 other retailers of postage stamps. There was a reduction in the 'real' price of postage, with a nominal drop of the postage rate from 45 cents to 40 cents in 1996, and restoration of the 45 cent rate in 2004. Since then the cost has risen to 50 cents in 2007, to 60 cents in 2010 and to 70 cents in 2012.