NPE to find ways to meet profits

Writer: 
Soe Min Htike + Sithu
With purpose of meeting with profits, Stated-owned News and Periodicals Enterprise of the Ministry of Information will try to increase profits from advertising, circulations as well as scrutinize expenditures, said Minister Dr Pe Myint.
 
The remarks came from the findings report of two combined committees regarding the national planning bill and Union budget bill discussed at the regular session of Union Parliament in Nay Pyi Taw on September 7.  
 
“The NPE has not seen a loss during the current presidential term. But expenditures are found more than income in 2018-2019 fiscal years. This is because of high price in purchasing raw materials. Foreign exchange rate is hiking remarkably. The prices of printing paper and ink as well as other raw materials are also rising. The use of online media is going up and so the advertising income from print media has become less and less. For that reason, the prior estimation shows that the NPE might lose K1157.577 million,” said Dr Pe Myint.
 
“We present loss possibility according to the official statistics. We have to try to find ways to ease loss as it is a State-owned business. We have to try to supply newspapers in the rural areas across the country. We have to increase circulations. We have to reduce expenditures. We have to seek more profits from advertising,” said Dr Pe Myint.
 
We have to consider the advertising situation from private daily newspapers and weekly journals. Eight supplements of advertisements inserted in Myanma Alin and Kyehmon dailies were brought to a halt on June 1 in 2016. The NPE did not see a loss in the past. The various reasons result in more expenditure in 2018-2019 fiscal years. We have to find ways to ease loss, said Dr Pe Myint.
 
State-owned newspapers need to go to the people at reasonable price regardless of profits. A copy of 32-page newspaper costs at about K115, but one copy price is only K50.  
 
MP Aye Mya Mya Myo representing Kyauktan Constituency raised a question to the parliament before Minister Dr Pe Myint replied. The question was about why NPE is running at a loss in spite of having a lot of market shares and advertising profits. 
 
“The NPE announces expenditures of K21.537 billion and a net loss of K1.158billion. The NPE uses State-owned buildings and lands. The government appoints staff in use of State budget. It has possessed a largest market share and a lot of advertising profits. For that reason, my question comes to the parliament why it is facing a loss,” said MP Aye Mya Mya Myo.
 
According to the official statistics of the 2018-2019 fiscal years, there are 32 State-owned organisations. Out of them, 22 are seeing profits but 10 facing losses. The NPE is one of the loss-facing organizations.  
 
Translated and Edited by Win Htut