The Postal (Miscellaneous Provisions) Bill which was published in 2001 provides for the issue, sale and disposal of shares in An Post in the context of an employee share ownership plan, ESOP, and possible strategic alliance. The Bill also contains ancillary provisions arising out of a possible change of ownership.
The financial and industrial relations environment in An Post has changed substantially since 2001. Following operational losses of almost €43 million in 2003, the An Post board approved a recovery strategy for the company. The implementation of the recovery strategy is contingent on agreement with the trades unions to radical restructuring. Negotiations have been ongoing with the trades unions for over a year now and critical aspects will shortly be moving to the Labour Court for final determination.
With the IR situation in An Post at a delicate and critical stage, it would seem prudent to defer consideration of the issues provided for in the Bill until a resolution is found to the IR issues. For this reason, a decision has been taken, in conjunction with the Chief Whip, to withdraw the Bill from the Dáil Order Paper.