Media Minister dismisses speculation on moves to sell SLRC

31 October 2022 05:15 am Views - 1129

While denying speculations on moves to privatise State-owned and loss-making Sri Lanka Rupavahini Corporation (SLRC), Mass Media Minister Bandula Gunawardana said a proposal has been submitted to the Cabinet to lease out a land block owned by SLRC to a State-owned higher educational institute.

“We received SLRC as a gift from the Japanese government. We will not sell Rupavahini.  However, the current debt of SLRC has risen to Rs.1 billion.

With rising debt levels, the interest cost is also rising, thereby, we are struggling to continue operations of SLRC,” Gunawardana stressed.

As the government is engaged in a national programme to reform SOEs, he said a proposal has been submitted to lease out an underutilised land block owned by SLRC to a State-owned higher education institute for 30 years.