Sri Lanka set to introduce Electronic Media Broadcasting Authority Act & National Media Policy

State Minister for Mass Media Shanta Bandara recently announced that the Electronic Media Broadcasting Authority Bill will soon be presented in Parliament. This move is part of the government’s broader strategy to regulate electronic media effectively, the Minister said.  Bandara disclosed that a comprehensive national media policy is in the final stages of approval, having been drafted and currently under Cabinet review. 

Addressing the critical issue of financial management, State Minister Bandara emphasized the government’s focus on resolving the revenue and expenditure challenges within the 16 institutions under the Ministry’s purview. A significant effort has been directed towards making these entities self-sufficient, reducing their dependency on Treasury funds. Notably, the Sri Lanka Rupavahini Corporation and the Sri Lanka Broadcasting Corporation have seen positive developments through strategic discussions and decisive actions with their management teams.

Significant progress has also been reported for the Independent Television Network and the Associated Newspapers Ceylon Limited (Lakehouse), with expectations set for these institutions to become profitable by next year.

The Postal Department, in particular, has shown remarkable financial improvement. With an increase in revenue projections from Rs. 9,268 million in 2022 to Rs. 13,616 million in 2023, coupled with a reduction in losses from Rs. 7,173 million in 2021 to Rs. 3,222 million in 2023, the Department is on a clear path to financial independence. By the end of 2024, the Postal Department is expected to transform into a self-sustaining, profit-making entity, achieving its goals without imposing additional financial burdens on the public. This strategic approach to financial management and policy implementation underscores the government’s commitment to enhancing the efficiency and profitability of state-run institutions.