Publishing sector hit by Tk3,000cr losses amid pandemic
Skip to main content
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
  • More
    • Subscribe
    • Videos
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Games
    • Long Read
    • Interviews
    • Offbeat
    • Podcast
    • Quiz
    • Tech
    • Trial By Trivia
    • Magazine
  • বাংলা
The Business Standard

Saturday
February 04, 2023

Sign In
Subscribe
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
  • More
    • Subscribe
    • Videos
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Games
    • Long Read
    • Interviews
    • Offbeat
    • Podcast
    • Quiz
    • Tech
    • Trial By Trivia
    • Magazine
  • বাংলা
SATURDAY, FEBRUARY 04, 2023
Publishing sector hit by Tk3,000cr losses amid pandemic

Industry

Mir Mohammad Jasim
06 August, 2020, 01:30 pm
Last modified: 06 August, 2020, 02:17 pm

Related News

  • First case of new Covid sub-variant Omicron BF.7 detected in Bangladesh: IEDCR
  • Genome sequencing reports of Chinese nationals infected with Covid by Sunday: IEDCR
  • 20 Covid cases reported in 24 hours
  • Right info most cost-effective for pandemic management
  • 10 Covid cases reported in 24 hours

Publishing sector hit by Tk3,000cr losses amid pandemic

Book sales have stagnated since March this year due to the deadly Covid-19 pandemic, and publishers kept losing money due to expenses and unsold books

Mir Mohammad Jasim
06 August, 2020, 01:30 pm
Last modified: 06 August, 2020, 02:17 pm

Publishing houses feel the squeeze

  • Only around 10% of Tk12,000cr average yearly transaction achieved so far
  • Bangladesh Pustak Prokashak and Bikreta Samity has 26,000 members, 1.5 lakh staff
  • Bangladesh Gyan O Srijonshil Prokashak Samity has 206 members
  • Samity members lost around Tk250 crore since March
  • Publishing houses yet to get any stimulus package support
  • Many publishers went to banks seeking loans, but failed to get them

Mizanur Rahman Patwari – the owner of Mizan Publishers – has been in the publishing business for over 42 years, but never before has he faced a financial crisis of this magnitude.

His book sales have stagnated since March this year due to the deadly Covid-19 pandemic, causing him to suffer losses of around Tk10 crore.

Adding to his losses is the Tk30 lakh per month running cost of his publication house, which employs more than 100 staff members. The rest of the losses came from unsold books.

The publisher also printed 300 books on the eve of the Mujib Borsho [the centennial birth anniversary of Bangabandhu Sheikh Mujibur Rahman], but no copies have been sold as yet. Patwari will face severe financial issues if he fails to sell those books by the end of this year.

Mizan Publishers' dilemma is not an isolated story, because more than 5,000 publishers across the country are suffering from severe financial crises due to the pandemic shock. They are counting their days and looking for a way out of their current situation.

According to the Bangladesh Pustak Prokashak and Bikreta Samity, the publishing sector has suffered losses reaching more than Tk3,000 crore due to the coronavirus pandemic.

The yearly transaction of this sector is around Tk12,000 crore, but this year, it has not reached more than 10 percent of that amount, said association officials, adding, "Our sales usually start from March every year.

"But it has stagnated from March this year due to Covid-19 infections across the country."

Speaking to The Business Standard, Vice-President of the association Shaymol Pal said, "Many of the publishing houses could not return to their normal activities as they have already lost all their capital.

"They are yet to get any support from the government.  We, the publishers, are going through a very tough time. We have invested all our capital in printing a large number of books, but we have not been able to sell them yet. We have no funds at hand at this moment."

Pal added that they had appealed to the prime minister and commerce minister seeking allocation of a stimulus package to revive the publishing sector, but did not receive any response as yet.

The Bangladesh Pustak Prokashak and Bikreta Samity has around 26,000 members and more than 1.5 lakh staff. Among them, 3000 members are based in Dhaka.

Responding to a query, Universal Publications' owner Kazi Shah Al Alam said, "I printed books worth Tk10 crore, but only a few have been sold.

"The book sale season was supposed to begin from March this year, like it used to do every year. But now, we have no idea how much longer we will have to suffer. I am heading towards serious trouble, because books of this year's version cannot be sold next year."

Giving more details, Alam – who also serves as the director of Bangladesh Pustak Prokashak and Bikreta Samity – added, "I have already faced Tk1.5 crore in losses due to the coronavirus pandemic. I closed my office this month because I am no longer able to run my publication house.

"We have serious concerns over how many days the virus is going to linger. Many publishers went to the banks seeking loans, but failed to get them. If we do not get any loans, it will be tough to reopen our businesses after the pandemic."

Monirul Haque, owner of Ananya Prakashani and executive director of Bangladesh Gyan O Srijonshil Prokashak Samity, said, "We have 206 members, and everyone has been counting losses. Our members have suffered losses of around Tk250 crore.

"We print creative and other books. We printed a lot of books which have not been sold yet. We are yet to get any stimulus package facilities. We want the government to buy our books for educational institutions and offices. It will be a great help to us."

Aside from hitting larger publishing houses, the Covid-19 has devastated smaller houses as well.

Genius Publications is one of the small publishing houses in Bangladesh. Its owner Habibur Rahman said he has only 500 books and 10 others in the pipeline for print. He has counted losses of Tk50,000 per month since March.

"I will have to shut down my publishing house if the virus stays any longer."

Publishing house staff and book shop owners are also waiting for better days. They have no idea how long they will have to wait for the situation to return to normal.

Md Faisal, a former staff member of Genius Publications, said, "I left my job because I observed that the owner could not run the company. We were doing better, but we were not ready for such a situation."

Another staff member of a publishing house, seeking anonymity, said his boss fired several staff members including him last month. "I do not know what I am going to do now," he said in a worried and tired tone.

Economy / Top News

Publishing sector / Publishing industry / Economic Impact of Coronavirus / Economic Effect of Covid-19 / Covid -19 in Bangladesh / Coronavirus Pandemic / Coronavirus in Bangladesh

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • The Adani Group headquarters in Ahmedabad. Photo: Bloomberg
    Adani Enterprises shelves $122 million bond plan
  • Photo: Joynal Abedin Shishir/TBS
    BNP calls for road march in all unions on 11 February
  • Illustration: TBS
    Cash-strapped banks fail to maintain emergency cash

MOST VIEWED

  • Rod prices hit all-time high amid dollar crisis
    Rod prices hit all-time high amid dollar crisis
  • Abu Lutfe Fazle Rahim Khan. Sketch: TBS
    Small poultry farmers need low-cost loans to stay afloat
  • Photo: TBS
    Concord launches new plant to produce environmentally friendly products
  • Sketch: TBS
    Industries need to be energy-efficient
  • It is high time we focus on the logistics sector
    It is high time we focus on the logistics sector
  • Toy makers seek dedicated zone, govt support
    Toy makers seek dedicated zone, govt support

Related News

  • First case of new Covid sub-variant Omicron BF.7 detected in Bangladesh: IEDCR
  • Genome sequencing reports of Chinese nationals infected with Covid by Sunday: IEDCR
  • 20 Covid cases reported in 24 hours
  • Right info most cost-effective for pandemic management
  • 10 Covid cases reported in 24 hours

Features

Sketch: TBS

Say 'Salud' before your salad main course

8h | Food
Coots running. Photo: Enam Ul Haque

Cute Coot of Baikka Beel: 'And yet he was as bald as a coot'

3h | Panorama
With only one government run specialised cancer hospital in the capital — the National Institute Of Cancer Research and Hospital (NICRH) in Mohakhali — patients have no option but to resort to private hospitals. Photo: Noor A Alam.

Cancer care: Medical treatment and beyond

9h | Panorama
Andy Mukherjee. Sketch: TBS

What makes India's billionaires' support special for Adani

1d | Panorama

More Videos from TBS

Prioritise medical equipment, raw material imports over luxury items

Prioritise medical equipment, raw material imports over luxury items

38m | TBS Round Table
Concord launches new plant to produce environment friendly bricks

Concord launches new plant to produce environment friendly bricks

5h | TBS Stories
How Asif Khan would invest his fresh funds right now

How Asif Khan would invest his fresh funds right now

6h | TBS Markets
A proper price formula can help investors to plan big

A proper price formula can help investors to plan big

1d | TBS Round Table

Most Read

1
Leepu realised his love for cars from a young age and for the last 40 years, he has transformed, designed and customised hundreds of cars. Photo: Collected
Panorama

'I am not crazy about cars anymore': Nizamuddin Awlia Leepu

2
Photo: Collected
Energy

8 Ctg power plants out of production

3
The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., September 4, 2018. REUTERS/Yuri Gripas/File Photo
Economy

IMF approves $4.7 billion loan for Bangladesh, calls for ambitious reforms

4
Fund cut as Dhaka's fast-track transit projects on slow spending lane
Infrastructure

Fund cut as Dhaka's fast-track transit projects on slow spending lane

5
Photo: Collected
Court

Japanese mother gets guardianship of daughters, free to leave country

6
Belal Ahmed new acting chairman of SIBL
Banking

Belal Ahmed new acting chairman of SIBL

EMAIL US
[email protected]
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Privacy Policy
  • Comment Policy
Copyright © 2023
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - [email protected]

For advertisement- [email protected]