Finance Minister Mathias Cormann has ruled out selling off Australia Post for now.

“Australia Post is obviously facing some structural challenges, job losses are always disappointing but the truth is that Australians write fewer letters,” he said.

While the government had considered the Commission of Audit recommendation to privatise Australia Post, it didn’t think the time was right.

“I’m not going to rule out what may or may not happen in the future, but right now we’ve made a decision that it’s not sensible to proceed with a possible sale of Australian Post,” he said.

Acting Prime Minister Warren Truss said Australia Post faced a crisis in relation to falling revenue from standard letter deliveries.

“They are doing well, obviously in parcel delivery, but that represents a substantial change in the nature of the business,” said Truss.

He said maintaining mail services in remote and regional communities should be a priority.

AAP