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Govt urged to scrap 10 pc Customs duty on newsprint, uncoated paper

 

In order to save small and medium newspapers from going into deeper losses and closing down, the Indian Newspaper Society (INS) on Monday urged the government to withdraw the 10 per cent Customs duty, imposed in the Budget, on newsprint, uncoated paper used for printing newspapers and lightweight coated papers used for magazines, says a report.

 

INS issued a statement saying that the publishers of newspapers and magazines are already reeling under severe financial pressure due to factors like lower advertisement revenues, higher costs and digital onslaught.

 

The total consumption of newsprint in India is estimated at 2.50 million tonnes per annum and the capacity of the domestic industry is only 1 million tonnes. There are no domestic manufacturers of uncoated (glazed) and lightweight coated (LWC) paper, the report said.

 

Source : Exim News Service - New Delhi, July 10

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