THE government is ready to give tax breaks and incentives to media companies in an attempt to stop staff retrenchments, said Lim Guan Eng.

The finance minister said this when asked to comment on the ongoing crisis affecting the media industry, with several companies laying off workers this year.

Media Prima Bhd will today terminate 543 employees in the NSTP group, effective March 12, involving employees from the New Straits Times, Berita Harian and Harian Metro.

In October, the publisher of the biggest Malay-language daily, Utusan Melayu group, folded operations after prolonged financial difficulties, leaving about 800 employees in the lurch. It had offered severance packages to another 800 staff previously.

Lim today said his ministry had met with media company owners to discuss their situation last week.

“In the meeting, they did raise the issue of tax breaks and incentives (to help them).

“I told them that we will consider it if they can give an assurance that they will not retrench their employees,” he said after an event this morning.

Lim also said the government cannot interfere in the running of these media companies, but at the same time it is concerned with the plight of the affected employees. – December 16, 2019.