SHOULD GOVERNMENT CONTINUE TO RUN NEWSPAPERS?
THE Zambian government has announced plans to create a consolidated media and newspaper publishing company under the Industrial Development Corporation (IDC) Group. This is a shocking decision given Zambia’s severely constrained fiscal position. The first step was taken a few days ago when the IDC dissolved the Times Printpak Board of Directors and handed over the management of the company to Zambia Daily Mail leaving only the editorial team to manage content at the broke parastatal haunted by massive debt and liabilities. The state controlled Times Printpak Limited the Publishers of the Times of Zambia and Sunday Times of Zambia has growing outstanding statutory liabilities with workers not receiving regular monthly salaries, in some cases up to 11 months in arrears. During the first nine months of 2019, Times Printpak recorded an operating loss of K41.7 million and had a return on assets (ROA) of -49 per cent. The IDC has directed that the Zambia Daily Mail Limited Boar