By: Isuru Parakrama
Colombo (LNW): In a bid to offset the losses incurred by the island nation’s national postal service, a bill will be introduced for the modernisation of the Department of Posts to Parliament before the end of the year, revealed Mass Media State Minister Shantha Bandara, addressing a briefing held at the President’s Media Centre.
The Minister emphasised that in the backdrop where the current Post Office Ordinance hinders the renovation activities of the post, a decision has been taken to subject it to an immediate amendment, and accordingly, 80 per cent of the work has already been completed.
The income of the Postal Department as of December 31, 2022 was Rs. 7,000 million, whilst the costs borne by the dept amounted to Rs. 14,000 million, Bandara went on, adding that the necessary instructions have been given to offset the losses amounting to about Rs. 7,000 million.
The government expects to slash the losses down to about Rs. 4,000 million by 2023, and to balance the profit and loss by December, 2024, he added.
