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SL Posts Department aims for self-sustainability, eyes Rs. 21 bn revenue in 2024

March 07, Colombo (LNW): The Sri Lanka Posts Department has articulated its ambition to achieve a revenue target of Rs. 21 billion for the fiscal year 2024, aiming to operate as a self-sustaining entity independent of Treasury funding.

Postmaster General Ruwan Sathkumara elaborated on the department’s strategic shift towards becoming a business service provider rather than solely a public service entity.

Sathkumara highlighted the department’s proactive engagement in forging strategic partnerships with the private sector to address revenue shortfalls and strive for financial viability.

Notably, the department recently entered into a collaboration agreement with the global logistics and package delivery company, United Parcel Service (UPS).

Sathkumara shared these insights on the sidelines of the launch event for a commemorative stamp marking Hatton National Bank’s 135th anniversary.

It marked a significant milestone for the Posts Department, which issued its first-ever first-day cover stamp to a private bank.

In the preceding fiscal year, the department reported a revenue of Rs. 13.6 billion but incurred a loss of Rs. 3.2 billion.

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