Iraq News - Local News - Baghdadpost

Tehran’s oldest printing presses bankrupt, close amid US sanctions

bamshad sabz
Bamshad Sabz, one of the oldest and largest printing presses in Tehran, has stopped working after 30 years of printing textbooks and Iranian newspapers because of the lack of paper and the lack of foreign currency needed to buy it from abroad, showing the power and effectiveness of US sanctions against Iran.

The printing press notified the heads of newspapers’ boards of directors that it was bankrupt and would not be able to continue its work after Friday, telling newspaper officials to look for another printing press.

Because of the high prices and scarcity of paper, the situation of publishing in Iran is getting worse. Most employees in this area are not inclined to developing their work, and they clearly say that if this economic situation continues, they will close their presses until the end of this year and then declare bankruptcy.

In September, the newspaper Qanun addressed the high cost and scarcity of paper in the printing market in Iran in general, noting that this situation threatens to put an end to a number of Iranian publications.

Qanun added that the high cost of paper is caused by high foreign exchange rates, while the scarcity of paper is due to the US sanctions, which cut off supply to the Iranian market.

In its report, Qanun said that a number of Iranian newspapers decided to reduce the number of pages in order to reduce expenses, while other newspapers decided to switch to electronic journalism to escape from the paper crisis altogether.

In the same context, Qanun pointed to the role of corruption among Iran’s ruling elite in exacerbating the paper crisis. The report pointed out that two influential people in the Iranian regime received about €24 million at the governmental exchange rate for the import of paper, which they did not failed to then do, and legal proceedings brought against them have not yet reached a conclusion.

In light of the current paper crisis, it is known that Iran has a black market for paper trade and import, and this market is managed by influential Iranian regime officials, lining their own pockets while the Iranian people suffer.
Last Modified: Friday، 05 October 2018 12:10 AM