News
SLRC and SLBC to be merged, restructured
View(s):By Damith Wickramasekara
The Government is planning to merge State-run Sri Lanka Rupavahini Corporation (SLRC) and the Sri Lanka Broadcasting Corporation (SLBC) into one entity as part of efforts to manage a crippling debt burden amounting to more than Rs 1.2 billion.
The move comes as the institutions struggle to meet day-to-day expenses.
The Media Ministry has already submitted a list of recommendations to President Ranil Wickremesinghe on how it aims to proceed on the matter, Media Minister Bandula Gunawardane told the Sunday Times.
As per the recommendations, President Wickremesinghe is expected to appoint a committee next week to obtain advice on carrying out the restructuring process at the two institutions.
SLRC and SLBC have been running at a loss since 2015 and are also behind in submitting their annual reports to Parliament, the minister revealed.
The merger of the two institutions is one way to cut down on expenses, with resources of the institutions being shared.
Other measures discussed include utilisation of SLRC land for other government projects, making the SLRC a public listed company, selling 40% of its shares to either the Government or private sector, and implementing a voluntary retirement scheme (VRS) to prune staff at the institutions by several hundred employees.
The Government also plans to recruit a new SLRC Chairman who is likely to oversee the possible merger with SLBC.
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