Newsprint price shoots up -Pakistan Press Foundation (PPF)

Paksitan Press Foundtion

Newsprint price shoots up

KARACHI- The price of newsprint in the local market has appreciated by over Rs 8,000 per tonne in the last four weeks, according to sources.

From the average of Rs 35,000 per tonne, the price has shot up to Rs 44,000 per tonne. This means Rs 44/kg of newsprint.

The increase in newsprint price is due to the rise in international market prices, which have gone up from $500 per tonne to $625 per tonne CIF Karachi.

It may be mentioned here that the newsprint can now be booked by commercial importers and newspaper consumers at the same rate of import duty and taxes as was applicable to the newspapers before June 30, 2000.

The new policy has eliminated the black-marketing of newsprint imported by allegedly some media consumers who were not using the actual stock imported but part of it and the rest found way in the local market. This has now disappeared because newsprint is costing the trade the same as it is for the newspapers, since the levies are the same.

This action of the government, which was widely welcomed by genuine newspapers, has eliminated over-imports of newsprint by a section of the media importers and also improved newsprint supply in the market.

However, the advantage of this situation has been offset by the rise in international market price of newsprint.

Source: Business Recorder
Date:9/16/2000