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Newspapers to be in dire straits

Fears Noab as duty proposed on newsprint import

Staff Correspondent
The budget proposal for levying five percent import duty on newsprint will put the newspaper industry in dire straits, says the Newspaper Owners' Association of Bangladesh (Noab).
In a statement yesterday, its leaders expressed deep frustration over the proposal. They appealed to Prime Minister Sheikh I lasina to intervene and rescue the industry from financial crisis.
The finance minister's proposed five percent duty will increase to 11.5 percent once VAT and regulatory tax arc included, says the statement.
Even under the existing zero tariff regime, the newspapers have to pay 19 percent of the import cost to the state exchequer. If around 11.5 percent additional duties are added, the payable tax will go up to 30 percent, it explains.
Referring to the finance minister's argument that import duties on newsprint would help save the local mills, the Noab leaders said he seems to have overlooked the damage to be inflicted on the newspaper industry.
Besides, assessing two industries by different yardsticks is discriminatory, the Noab says.
The newspapers are already in financial difficulties. With the imposition of import duty, the fate of journalists and other newspaper workers will become even more uncertain, it adds.
The newspaper owners said they had time and again pointed out that the local paper mills produce substandard newsprint, per tonne of which costs Tk 8,000 to Tk 10.000 more than the high-quality imported newsprint.
Their statement says, “The government cannot reward a few naper mills for their sub-stanc ard produce and runaway profit while depriving the newspaper industry of similar concessions."
Apparently, the budget proposes a five percent import duty, but in effect it cleverly adds another five percent as regulatory tax.
The Noab members said allowing zero tariff on newsprint was a condition on which newspapers agreed to implement the seventh wage board’s recommendations.
Most of the newspapers have raised wages and benefits for their staff by 100 percent
But by imposing the import duty the government would breach its commitment, says the statement signed by Noab President Mahbubul Alam.
Noab leaders however welcomed the information minister's assurance that the issue would be resolved through discussions.
They also said they hope the finance minister would reconsider his proposal.