Newspaper industry facing financial crunch: APNS chief -Pakistan Press Foundation (PPF)

Paksitan Press Foundtion

Newspaper industry facing financial crunch: APNS chief

KARACHI- Mir Shakilur Rehman, President of the All Pakistan Newspapers Society (APNS), said that newspapers in the country were facing a multiple crunch economically and it was important that the advertising agencies extend maximum support to the print media.

He was addressing at a dinner hosted for the APNS members by Orient-McCann chief SH Hashmi who is also the winner of the APNS millennium award.

Mir said that newspapers were facing the crunch in respect of the newsprint import price, which had gone upward from US $410 to $ 840 and still hovered at very high levels. Added to this was the depreciation in the value of the rupee against the dollar. The inputs for the newspaper industry were now very costly and added to it was fall in quantum advertising. Regional newspapers were specially affected by this crunch.

Arif Nizami, President of the Council of Pakistan Newspaper Editors (CPNE), speaking on the occasion, said that the print industry was indeed in a crisis and the private sectors also the advertising agencies must play their role in helping newspapers tide over these difficulties. He also hoped that a satisfactory solution would be found to the issue of media buying houses. He congratulated Hashmi on getting the APNS millennium award.

Hameed Haroon, Chief Executive of Dawn Group, stressed the importance of advertising agencies as supporters of the print media and thanked Hashmi for holding the dinner.

SM Muneer, former FPCCI president, speaking on the occasion said Hashmi should be given responsibility in the government and he would best suit the water and power ministry because in a period of recession he had increased advertising revenue to newspapers substantially.

SH Hashmi, thanking the guests, said Orient-McCann had increased advertising by 47 percent overall to the print media, and he was proud of it.

He lauded the manner in which the print media representative organizations and the organization of the advertising agencies in the country had maintained democracy in their ranks.

Hashmi said that the APNS and the Council of Pakistan Newspaper Editors (CPNE) as also the Pakistan Advertising Association (PAA) had held their elections, as per their constitution regularly each year. In fact these organizations had set an example for others in the country to emulate. He said that the organizations had also adhered to their constitution. In fact, he said, the print media had very often provided the nation with confidence at a time when the nation needed it. However, on the question of the Media Buying Houses sought to be introduced by the APNS, he said that the matter needed careful examination and did not warrant a decision in haste and hoped that the APNS would give due consideration to the view of the PAA on this issue.

In his speech on the occasion Arif Nizami said that the newspapers had acquired greater confidence and trust of the public as compared to the electronic media because the print media had projected what the people wanted for this country better than the electronic media

Among those who attended the dinner were Sindh Provincial Ombudsman Haziqul Khairi and Captain Haleem Siddiqui.

Source: Business Recorder