Federal Minister for Information and Broadcasting Fawad Chaudhry has said that the media is facing a threat from the very business model of its owners.
Addressing a seminar titled as ‘National Security, Development and Media’, the minister discussed the crisis the media industry is faced with at present.
Referring to the financial crush different media houses are facing, the minister said the business model developed by the media owners is not viable and it could not sustain in the long run. The media houses’ owners are required to change their business models.
The basic issue of media is its own structure, which is not based on solid and viable grounds, he pointed out.
The media must come up with a viable and financially sustainable model to meet the current challenge. With the fast growth and latest developments in information technology, the shape of media will be totally different 10 years later, the minister predicted.
Regarding the government’s role to help the media come out of the current crisis, the minister said that the financial position of the country is before everyone.
The minister criticized the past governments for misusing government’s advertisements. The government used to spend some Rs10 billion on advertisements, which was increased up to Rs35 billion annually. The blatant misuse of government’s advertisements in the past must also be blamed for the current crisis, he added.
He underlined the need to go for international regulations in the media industry. PEMRA failed to regulate media and the government is planning to set up a new media regulatory authority.
We are also working on regulating social media. But for that purpose we need the help of big social media sites, the minister said.