Newspaper cover prices have increased in Malawi with the country media giant Times Group announcing the new prices for all of its titles.
The flagship dail newspaper, The Daily Times will now cost K450 but its Wednesday edition which carries Business Times insert will be K500, the publication said.
The Media Institute of Southern Africa (Misa) Malawi chapter newspaper of the year has also raised the cover price of its national weekly, Malawi News and Sunday title, the Sunday Times to K500 and K450 respectively.
The latest price rise will mean it is the most expensive newspaper.
The publication said it has increased the cover prices because government has slapped a value-added tax on import of newsprint which is essential raw material in newspaper production.
The media giant said they increased the cover price to “deliver the committed excellence” in the quality of their news titles, saying they have tried in the past to absorb pressure of production costs which has always been rising due to the free fall of the Kwacha. Newspaper production mostly depend on imported material.
The Daily Times on Monday posted an editorial comment which lamented the VAT on newsprint, saying the newspaper industry will bessuffering from a financial stress caused by VAT, which could rise even further.
The paper said Malawians are living in “one of the cruel economic times.”