Newspapers Owners Association of Bangladesh (Noab) and Bangladesh Sangbadpatra Parishad (BSP) have expressed deep concern over the arbitrary increase of the price of newsprint by local manufactures Shahjalal Newsprint of Bashundhara Group and Capital Newsprint.

These companies have increased the price of newsprint by as high as Tk 10,000 per tonne. This huge price hike will push the newspaper industry to a grave financial crisis, Noab President Mahbubu) Alam and BSP Acting President Abul Asad said in a joint statement yesterday.

They urged the local manufacturers to refrain from taking any step that will put the newspaper industry in jeopardy.