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Committee of enquiry into the commercial accounts of the post office



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m sT S R -a a iiiR A i, S COPT ____

GOaiITTEE OF B Q U H r INTO THE COMMERCIAL ACCOUNTS CF THE POST OFFICE ,

The Postmaster-General (Mr* C 0W 0 Davidson) said today that the

Government had approved the appointment of a Committee to examine and report

upon the financial relationship between the Post Office and the Commonwealth

Treasury, and to enquire into other important associated aspects, including

the basis of the preparation of the Post Office Commercial Accounts®

Mr. Davidson said that it would be recalled that the establishment

of this Committee had been foreshadowed by the Treasurer, in his Budget speech,

and, also, by the Prime Minister* The work of the Committee would be of con­

siderable importance in guiding and assisting the Government in the determination

of important principles including those related to the financial results of Post

Office operations, the funds made available for its Capital Works and the amount,

basis or rate of any annual contribution which the Post Office may be required to

make to the Commonwealth Treasury. So far as the Commercial Accounts are con­

cerned, the Government is inviting the Committee to consider a number of matters,

including those related to the Post Office contribution for superannuation, pension

and furlough payments and the basis of provision for depreciation of capital assets*

Naturally, the Government will review the financial position of the Post Office in

the light of the Committee's report*

The committee would comprise three outside members, together with a

representative of the Department of the Treasury and of the Post Office* The

Government had invited Sir Alexander Fitzgerald, Mr* L*B* Evans and Mr* Gerald

Packer to serve on this Committee and all had accepted.

Sir Alexander Fitzgerald, O.B.E*, B. Can*, F.AoSeA* , F*C*I*S., F*O.A.A* ,

formerly G.L. Wood Professor of Accounting at the University of Melbourne, is

Chairman of the Commonwealth Grants Commission, a Member of the Board of Business

Administration, Department of Defence, a Senior Partner in a leading firm of

Chartered Accountants and a Director of several companies* He would be Chairman

of the Committee.

Mr. L.B. Evans, F, A.S.A,, is Managing Director of Makower, MeBeath and

Co. Pty. Ltd. and a Director of a number of other companies. He is a member of the

Board of Business Administration, Department of Defence, and Hon* Treasurer of the

Victorian Division of the Australian Red Cross Society*

Mr* Gerald Packer, C.B.E,, B*Sc*, is a Member of the Australian National

Airlines Commission and the Immigration Planning Council, as well as being a

Director of several companies and Business Consultant to the Commonwealth Public

Service Board.

The Treasury representative would be Mr. J»F* Ninmo, M*A*, First

Assistant Secretary, Banking, Trade and Industry Branch, and the Post Office

member would be Mr, E.W, Easton, M»A., B.Com», Assistant Director-General,

Finance and General Services.

Mr, Davidson said that it was expected that the Committee would hold its

first meeting in Melbourne next week.

8 1 ; 11 mm

Canberra