The State Correos EP is costing $ 4.9 million in recent years and an additional $ 14 million of losses have been dragged along, according to the outgoing general manager of this public company, Mauro Intriago.
The entity was extinguished on May 19 with Executive Decree 1056. The company has not paid out personnel or suppliers “and it is not known if this year it will be possible to cancel because” there is not a penny. “
Correos EP was created in 2010, although the service exists 189 years ago, it started with revenues of $ 40 million, 2,000 employees and the service’s monopoly with all the institutions and public companies that guaranteed fixed earnings, but four factors caused its slow decline, since 2015: bad asset purchases and excessive personnel, breach of contracts, debtor clients, lack of audit of the financial statements.
The first two factors are classified by Intriago as “waste” and the rest as “outrageous”.