Saudi Gazette report

JEDDAH — The general assembly of Okaz Organization for Press and Publication has approved the closing accounts for 2017 during which the organization faced grave local challenges including the change of pattern of the print media readership and local and international economic recession which adversely reflected on the organization's financial results. At a meeting here at the weekend, the meeting said it was regardless of the efforts of the board of directors to contain the awkward situation.

Nabeel Al-Hossain, deputy chairman of the board of directors, chaired the meeting which was also attended by Abdul Rahman Bin Hadi, representative of the Ministry of Culture and Information. Bin Hadi is also the supervisor of the internal information in Makkah region.

The general assembly members voiced their understanding of the challenges facing the print media at local and international levels affecting the performance of the organization in delivering its national message during the next phase.

The members also tackled the organization's arrears with the others (both commercial and government) and said the fact that these arrears were not collected has negatively reflected on the organization's ability to meet its financial obligations toward others.

The general assembly asked the organization to adopt pragmatic measures for collecting these arrears to enable the organization meet its commitments and proceed with its future plans aimed at ensuring the par excellence of Okaz and Saudi Gazette newspapers on both the print and electronic levels through Okaz electronic gate project.

The assembly confirmed the appointment of Jameel Al-Dhiyabi, editor-in-chief of Okaz newspaper, as supervisor of Saudi Gazette.

The assembly reviewed the steps taken by the board of directors to rationalize spending through cancellation of much of the none-operational expenditures, merging of responsibilities and tasks, cancellation of some redundant jobs and liquidation of the activities of some sisterly companies.

The assembly decided to offer the existing company premises on rent since the building is big and hence has huge maintenance expenses. The organization, with all its administration and editorial sectors (except the printing press), will move to an alternate building which will suit the actual requirements of the organization.

The members reiterated the effective role of the Ministry of Culture and Information toward the press establishments, the need to keep it abreast of all developments and the importance of soliciting its opinion on the developments in the organization and its continuity.

The assembly decided to continue with the office of Ernest and Young as external auditors of the organization.

It approved the use of e-mail to communicate with the members and supply them with the organization's financial and other reports.

Many members underlined the importance of the print media and said it is still surviving despite myriad challenges.

They asked for providing press establishments with financial support to keep them alive in the face of the threats posed by the electronic media.