Australia, insurance, car, home, live, holidays

Ahmed Fahour took home $5.6 million in 2015-16,a Senate committee has found.Credit:Justin McManus

Australia Post was asked to provide details about executive salaries during estimates in late 2016. Australia Post replied in January it would supply the information,but only in secret. It argued the information was personal and sensitive and should not be released because individuals"may become targets for unwarranted media attention",which could lead to brand damage.

The committee responded that public interest overrides those concerns and that"potential issues of personal safety and security do not appear to be compelling reasons to withhold publication". The committee informed Australia Post on Tuesday afternoon it would be publishing the information. Australia Post requested one week's notice before publishing the information,but this was denied.

"For your future reference,the committee emphasises that it will not agree to information being provided on a confidential basis outside of the estimates process unless a compelling case has been made that public disclosure would harm the public interest,"Senator Paterson wrote in his letter.

An Australia Post spokeswoman said remuneration is set by its board and that Mr Fahour's total remuneration package"takes into account the size and complexity of the organisation,which has an annual turnover of more than $6 billion".

Senator James Paterson probably thinks his colleagues can't handle basic admin either.Credit:Alex Ellinghausen

She added 73 per cent of its revenue comes from the non-regulated side of the business where it is competing with major global players such as DHL,FedEx and Toll and that total executive remuneration has not increased since 2014 when the executive last took their bonuses.

"Since 2007 Australia Post has paid more than $6.3b in dividends and taxes to the Federal Government. Australia Post does not receive any taxpayer funding."

Labor Senator Sam Dastyari said releasing the managing director's salary was a"basic accountability measure".

"When public money is involved,the public have a right to know,"he said.

"It is no secret these are high salaries and there is nothing wrong with significant remuneration for people doing important work,but seriously there should be a level of transparency to it,"

Australia Post published detailed information about executive salaries up until its 2014-15 annual report. The last time Mr Fahour's salary was listed was in the 2013-14 annual report when he received a salary of $1.7 million and a bonus of $2.6 million. A further $2 million he was due in net superannuation payments was"mutually agreed"to be turned into a pre-tax $2.8 million donation to the Islamic Museum of Australia,founded by his brother Moustafa Fahour. That year Australia Post also revealed 409 employees were earning more than $195,000. It no longer reports information about highly paid employees.

In 2015 the federal government introducednew reporting rules requiring government-owned business such as Australia Post,NBN Co,and Defence Housing Australia to only"report the cost to the Commonwealth of employing senior management personnel for the reporting period,but not reporting the individual benefits received by those persons".

NBN Co still voluntarily reports executive remuneration,but Australia Post and DHA do not.