Sri Lanka’s Posts Department is on a path to financial independence, eyeing a projected revenue of Rs.21 billion for 2024. Departing from its traditional role as a public service provider, the department is embracing a business-oriented approach, aiming to operate without reliance on Treasury funds.
Postmaster General Ruwan Sathkumara outlined the department’s new strategy, emphasizing strategic partnerships with the private sector. Notable among these collaborations is an agreement with global logistics giant, United Parcel Service.
This shift was highlighted during the launch of commemorative stamps for Hatton National Bank’s 135th anniversary, where the Posts Department issued its first-ever first-day cover stamp to a private bank. Sathkumara stressed the potential of the department to leverage innovative services and increase public awareness to boost revenue.
Despite global declines in traditional postal services, the department sees opportunities in business postal services, cash on delivery (COD), and EMS services. With a revenue of Rs.13.6 billion last year, despite a Rs.3.2 billion loss, the department is determined to capitalize on its strengths and adapt to changing market demands.
