Newspaper industry requires urgent attention

The ongoing coronavirus pandemic has led to a global economic slowdown that has affected multiple industries and led to mass unemployment and retrenchments across the world. In Bangladesh, at the beginning of the "general holiday" aimed at tackling the spread of coronavirus in the country, the government also announced measures to support industries that were facing great risks due to the pandemic-induced economic conditions. However, the newspaper industry, despite being severely impacted by the crisis and on the verge of collapse, has received very little attention from the authorities.   

We fully support the recently released statement from the Newspaper Owners' Association of Bangladesh (Noab), which urged the government to stand beside the newspaper industry during these trying times. Many newspapers across the country have been forced to discontinue print publishing and move online—even after employing multiple cost-cutting techniques, most newspapers are struggling to earn revenue and maintain regular payment of their employees, and some have had to make the difficult decision of reducing their workforce in the midst of a pandemic. Noab has held multiple meetings with different government ministries to represent the demands of newspaper owners, editors, journalists, agents and hawkers and ask for support; nevertheless, very few of their recommendations have been taken into account while preparing budget allocations and formulating policies during this crisis period.

During the pandemic, even when the economy came close to a standstill, journalists continued to do their jobs—going to great lengths and often putting themselves at risk to report from the field and provide the latest updates. News media has played an essential role in keeping the nation informed during these times of national emergency, but without government support, they will not be able to continue to provide these crucial services.

We urge the authorities to pay heed to the demands put forward by Noab, especially with regard to the reduction of taxes—as a service industry, newspapers are void of any special benefits and have to pay corporate tax of 35 percent, whereas despite being a for-profit sector, the RMG industry's corporate tax stands at 10 to 12 percent. The Noab demands of reducing corporate tax to 10 percent, omitting the 15 percent VAT on the import of newsprint and reducing the Tax at Source on advertising revenue and advance tax on raw materials demand careful consideration. Almost every sector has been given incentives and concessions by the government to help tide them over during this period. The situation of newspapers and mass media is dire enough to warrant similar levels of support. Without government interventions, the industry may not survive the pandemic.