Cost of paper used to publish newspapers and magazines has jumped 20 per cent in the past three months due to demand-supply imbalance following the pandemic, prompting news publishers to rush to the government seeking waiver of 5 per cent import duty to help cut cost.
Newsprint cost has jumped 20 per cent in the last three months due to demand-supply imbalance post pandemic, prompting news publishers to petition the government for waiver of 5 per cent import duty to help cut cost. The industry has been hit hard due to COVID-19 led disruptions and the most newspapers have stopped sending newspapers to rural areas where there is less than 50 copies to reduce the distribution cost, said the Indian Newspaper Society (INS) President L Adimoolam. In a representation to the Finance Minister Nirmala Sitharaman on Thursday ahead of the forthcoming union budget, INS has suggested to take steps as to reduce the customs duty on import of newsprints, a stimulus package for the industry or at least to help the publications by releasing advertisement with an increased tariff of 50 per cent
Newsprint cost up 20% in last 3 months, publishers seek waiver in customs duty
Updated:
Updated:
January 16, 2021 18:18 IST
It is estimated that the print media would take two or three years to recover from the current situation, the INS added.
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It is estimated that the print media would take two or three years to recover from the current situation, the INS added. Newsprint cost has jumped 20 per cent in the last three months due to demand-supply imbalance post pandemic, prompting news publishers to petition the government for waiver of 5% import duty to help cut cost.
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