The Westminster government fired the starting gun last week for a £3bn flotation which will end the Royal Mail’s 378-year history of state ownership.
Michelangelo Pagliari, who was postmaster general in Hong Kong from 1992 to 1995, when it was a British colony, said he was “totally opposed” to the proposal and expressed disgust that Moya Greene, the chief executive of Royal Mail, earned £1.5m last year.
Pagliari, now retired, from Kilmalcolm, Renfrewshire, warned the move would pave the way for “obscene” salaries for more executives and higher delivery charges to remote areas such as the Scottish islands.
“The chief executive’s salary is a multiple of the combined salaries of the entire management of the Hong Kong post office,” he said. “No doubt this partly explains why we made a profit every year while maintaining among the lowest domestic and international postage rates in the world.”