A new Postal Act will be presented to The Parliament within this year to expedite the modernization process of the Postal Department, State Minister of Mass Media Shantha Bandara said at a press briefing held at the Presidential Media Centre today (16).

The State Minister went on to add that the modernization process is planned to be carried out as a joint public-private sector partnership at a cost of Rs.10 billion and assured that the Postal Department will not be privatized at any cost.

He further said that It is expected to convert the Postal Department into a profit-making institution within the next two years, through the digitization of the Department.

The State Minister further said that by the end of 2023, the loss of the Postal Department will be reduced by Rs.4000 million. (NewsWire)