Federal Minister for Information and Broadcasting, Sheikh Rashid Ahmed said on Friday the financial turnaround of Pakistan Television (PTV) from a loss generating organisation to a profit making efficient entity was only possible with the dedication of its employees and a visionary leadership. He was speaking at a function arranged by PTV Central Employees Union to mark the historic performance of PTV during the last year.
PTV achieved advertising revenue of over Rs 2.2 billion during the last year, showing a 35 percent increase over the previous year and a record in its 40-year history.
Sheikh Rashid Ahmed appreciated the efforts of the present management for turning the state owned institution into a healthy, self sustainable and efficient organisation in a short period.
He highlighted the fact that PTV had incurred a loss of Rs 470 million by June 2004 but the increase of advertising revenue by Rs 600 million during 2004-05 had significantly contributed to its financial turnaround.
Managing Director PTV, Arshad Khan speaking on the occasion said that "This remarkable achievement has been made despite the fact that the media market of Pakistan has now become highly competitive and we do not have the liberty of monopolising the media market anymore."
Arshad Khan said that the most appreciative fact was that PTV employees achieved this historic landmark remaining within the limits of public sector environment, while our competitors enjoy all the liberties and free hand in their operation.
He attributed the turnaround of the corporation to the dedication and hard work of PTV employees that had met the target and revived a state asset.
The dynamic policies adopted by the present management had proved successful, he added.
Chief Executive PTV Central Employees Union Agha Shahid Rashid lauded the policies of the present management that had brought PTV out of financial crisis.
On behalf of the PTV employees, he reiterated full support to the management and resolved to work more dedicatedly.
Agha Shahid also thanked Sheikh Rashid Ahmad for his support and guidance that had vitally contributed to the financial turnaround of PTV.
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