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Govt advertising serves as oxygen to print media: APNS

Web Desk 09:35 PM | 28 Feb, 2018
Govt advertising serves as oxygen to print media: APNS
KARACHI - The APNS has welcomed the intent of the Chief Justice of Pakistan to examine government advertising in the print media.

The President, All Pakistan Newspaper Society (APNS), Sarmad Ali in a statement issued on Wednesday has said that the Chief Justice has observed that despite the failure to provide utilities, the provincial governments spend taxpayers money on massive advertisements in the media for self-promotion at nation’s expense.

The APNS clarified that government advertising serves as oxygen to the liquidity starved print media, and stopping government advertisements to media at this stage will have a crippling effect on the economy of the newspapers as the viability of the free press is dependent solely on its financial independence.

The APNS pointed out that print media in general and small and regional newspapers in particular, mainly depend on revenue earned from advertisements as the cover price of newspapers does not even meet 5% cost of producing a newspaper.

The advertisements issued by federal and provincial governments basically highlight the performance of the governments by disseminating information regarding their respective achievements. This practice is not peculiar to Pakistan but is common across the developing world where advertisements are the main source of information to the people of a country, the statement added.

The APNS is of the opinion that action to limit government advertisements in the print media would adversely affect the financial viability of newspapers which are already facing financial crunch due to economic and industrial slowdown in the country.

The APNS requested the three-member bench formed by the honourable Chief Justice to take this critical issue into consideration, the statement said.

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Daily Pakistan Global Web Desk

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ISLAMABAD – Pakistani rupee finally ended its losing streak against US dollar on Tuesday, gaining Rs4.43 after massive depreciation over the last week.

During the intra-day trading, the rupee was hovering at 266.75 with an appreciation of around 1.07 percent as talks between Pakistan and IMF underway for a stalled bailout programme.

Earlier on Monday, the rupee plunged by Rs7 and the greenback touched all-time high of Rs272. Last week, the local currency dropped by Rs24.54 in the interbank market – the largest single-day depreciation in more than two decades.

Finance experts linked the rupee’s recovery to exporters offloading some of their proceeds as remittances and export continued days after dollar cap was removed.

The country of over 220 million is facing a worst economic crisis with the forex reserved held by the country’s central bank remaining at critical $3.68 billion which were not enough to cover a month's import.

https://en.dailypakistan.com.pk/30-Jan-2023/gold-continues-to-shine-hits-all-time-high-of-rs210-500-in-pakistan

KARACHI – The price of a single tola of 24-karat gold in Pakistan is Rs205,900 on Tuesday. The price of 10 grams of 24k gold was recorded at Rs176,530.

Likewise, 10 grams of 22k gold were being traded for Rs162,500 while a single tola of 22-karat gold was being sold at Rs 182,100.

Note: The gold rate in Pakistan is fluctuating according to the international market so the price is never been fixed. The below rates are provided by local gold markets and Sarafa Markets of different cities.

City Gold Silver
Lahore PKR 205,900 PKR 2,370
Karachi PKR 205,900 PKR 2,370
Islamabad PKR 205,900 PKR 2,370
Peshawar PKR 205,900 PKR 2,370
Quetta PKR 205,900 PKR 2,370
Sialkot PKR 205,900 PKR 2,370
Attock PKR 205,900 PKR 2,370
Gujranwala PKR 205,900 PKR 2,370
Jehlum PKR 205,900 PKR 2,370
Multan PKR 205,900 PKR 2,370
Bahawalpur PKR 205,900 PKR 2,370
Gujrat PKR 205,900 PKR 2,370
Nawabshah PKR 205,900 PKR 2,370
Chakwal PKR 205,900 PKR 2,370
Hyderabad PKR 205,900 PKR 2,370
Nowshehra PKR 205,900 PKR 2,370
Sargodha PKR 205,900 PKR 2,370
Faisalabad PKR 205,900 PKR 2,370
Mirpur PKR 205,900 PKR 2,370

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