SLRC & SLBC will become a 'public company' due to continuous losses

COLOMBO (News 1st); Sri Lanka is planning to convert its state television and radio stations into a public company.

Minister of Mass Media Dr. Bandula Gunawardana said that Sri Lanka Rupavahini Corporation (SLRC) and the Sri Lanka Broadcasting Corporation (SLBC) will be converted into a public company.

The minister addressing the Ministerial Consultative Committee on Mass Media had noted that Sri Lanka Rupavahini Corporation and the Sri Lanka Broadcasting Corporation, which are continuously making losses, will be converted into a public company.

Presenting statistics from 2015, the Chair of the Committee Bandula Gunawardena pointed out how these two channels have made losses. 

Accordingly, he had pointed out that the Sri Lanka Rupavahini Corporation has made a loss of 277 million rupees in the year 2023 and the Sri Lanka Broadcasting Corporation has made a loss of 457 million rupees in the year 2023. 

Pointing out that it is difficult for the Treasury to provide funds for these channels, the Chair stated that there are plans to convert the Sri Lanka Rupavahini Corporation and the Sri Lanka Broadcasting Corporation into a public company. 

Accordingly, the Committee Chair further commented that the Cabinet Ministers have decided to appoint a committee to take further action in this regard.