Give an opinion on the statement below

"The Independence Broadcasting Authority (IBA) is created by Act No 17 of 2002, the IBA Act provides for the existence of the establishment of private broadcasting companies including community broadcasting. The purpose of this Act is to establish the independent broadcasting authority and define its functions as well as to control and regulate broadcasting and diffusion services. However, the onset of IBA has caused challenges to private broadcasting such that their business is now surrounded by circumstances of misfortune. One wonders whether it was necessary to create the IBA."