The newspaper industry in Bangladesh is going through a critical stage. The government has recently decreased the advertisement rate. Meanwhile, the price of newsprints has also increased. Such steps, as many apprehend, would take the newspaper industry into a deep crisis. Thus, many newspapers, which are mostly dependent on advertisements to meet their expenses, are in a great financial crunch. Although the government has declared the newspaper as an industry, it is not getting any benefit as an industry. On the contrary, the sector is burdened with various taxes and duties.
According to a report published in this national daily on Thursday, two former top journalist leaders expressing concern over the recent newsprint price hike and the decreased of government advertisement rate said, even though the government has recognised media as an industry, many newspaper owners do not get bank loans as they don’t have their own assets like buildings or lands which can be used as mortgage. To them, the journalists and employees will suffer if the publication cost is increased. The government should take steps, including increasing the advertisement rate, as the newspapers suffered badly during the pandemic time. Sometimes it is seen that some big investors come to the media with huge investments in the beginning. But after some days, we see that the same media is shut down. Then people in the house become helpless. When the prices of all things are going up, such steps of decreasing the advertisement rate will kill the industry. If these industries die, many people will be jobless. So, the government should pay immediate attention to save the media which is regarded as the fourth column of the state.
Meanwhile, the Newspaper Owners’ Association of Bangladesh (NOAB) has made a number of demands to protect the newspaper industry from the ongoing crisis. The demands include reduction of the corporate tax rate on the newsprint from 30 to 10 per cent, complete withdrawal of VAT on the import of newsprint and zero import duty on newsprint. Currently the local newsprints is being sold at Tk 94,000 per tonne while it was Tk 60,000-65,000 a month ago. On the other hand, the imported newsprints are being sold at Tk1,60,000 per tonne which was Tk1,10,000-1,20,000, newsprints association sources said.
We hope that the government would realise the existing crisis in the newspapers and announce enhancement of the advertisement rate immediately as the very existence of the industry is at stake.
