12/12/2013 12:31 EST | Updated 02/11/2014 05:59 EST

Canada Post Stops Selling Permanent Stamps

Canada Post has suspended its sale of permanent stamps, in advance of hiking the cost to send letter mail.

As of March 31 a single stamp will cost one dollar, up from 63 cents. If purchased as a pack, stamps will cost 85 cents each.

As part of its action plan to overhaul the Crown corporation, Canada Post says effective immediately, "the sale of new permanent or 'P' stamps will be suspended until the transition is successfully completed."

Canada Post introduced non-denominated — or permanent — stamps in 2006, boasting they would "retain its value forever."

People who have already purchased permanent stamps can still use them without topping up with additional postage, said Canada Post.

Canada Post announced major changes to its service Wednesday, including the phasing-out of urban home delivery over the next five years.

It will also eliminate 6,000 to 8,000 jobs across Canada in that time period.

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