Indian Newspaper Society seeks rollback of
newsprint duty
The total consumption of newsprint in India is estimated to be 2.50 million tonnes per year but the capacity of the domestic industry is only 1.0 million tonnes
The Indian Newspaper Society (INS) has requested the
Centre to withdraw the 10 per cent customs duty imposed on newsprint —uncoated
paper used for printing newspapers and lightweight coated papers used for
magazines. Finance Minister Nirmala Sitharaman announced the levy of duty in
her maiden budget speech on July 5.
Publishers of newspapers and magazines are already
reeling under severe financial pressure due to many factors like lower
advertisement revenues, higher costs and digital onslaught from technological
giants, Mary Paul, the officiating secretary general of INS said in a
statement, adding that small and medium newspapers will go into deeper losses and
several will be forced to close down.
The total consumption of newsprint in India is estimated
to be 2.50 million tonnes per year but the capacity of the domestic industry is
only 1.0 million tonnes. Further, no domestic manufacturer produces uncoated (glazed)
and lightweight coated (LWC) paper.
"So, the INS calls for urgent intervention of the
government to save the Indian newspaper industry by scrapping the unbearable
burden imposed on it," said Paul.
Source
| Mid-Day | 9th July 2019
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