Parcelforce needs ministers' approval
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• Parcelforce directors have approved a plan for the business up to 1997 — but first it requires Government approval.
This could be delayed because of ministers' reluctance to commit themselves so close to an election — but Parcelforce is hoping for approval by mid-January when the five-year plan begins.
Details remain secret, but it is known that it includes contributions from business consultant McKinsey, which has been engaged for some months to carry out studies at Parcelforce.
If the Government delays approval of the five-year plan, money will still be released in January for new vehicles. Transport head Ken Mabbett is hoping to increase the fleet by 1,500 with a corresponding number of new jobs (CM 31 Oct-6 Nov). 0 A union ballot of 11,000 Parcelforce employees last week confirmed acceptance of a pay offer of 4.2% on wages plus a lump sum of £165 — the vote was three to one in favour.