ANCL not making losses - Media Minister

Uditha Kumarasinghe and Irangika Range

KOTTE: Information and Media Minister Anura Priyadharshana Yapa yesterday told Parliament that there is no possibility of Lake House experiencing financial difficulties as all remedial measures have already been taken on any future increases of prices of newsprint and salaries/ allowances of employees.

Responding to an oral question raised by the UNP MP Ravi Karunanayake whether any losses have been reported within Lake House (Associated Newspapers of Ceylon Limited), Minister Yapa said according to the reports of the income gained by the Lake House during the past three months, no such loss has occurred.

The Minister said advertisements gained by the ANCL have drastically increased.

As a result, the institution has faced difficulties in maintaining the existing ratio of 40 per cent advertisements and 60 per cent news.

According to Minister there is a minor drop in the circulation of some Lake House newspapers. But arrangements have been made to rectify those shortcomings.