By Zubeida Mustafa
BOOK PUBLISHING is a high risk business in Pakistan, says Mr Shams Quraeshi of Mackwin & Co. who has been in the book trade since 1947. Returns are slow in coming, hence not many people with capital to spare wish to invest in it. They would rather opt for an industry with quicker and guaranteed returns.
Even banks regard books as poor risk. Thus one can get a bank loan of Rs 80,000. against paper reams worth Rs 100,000. But as soon as the paper is converted into a book, no bank is prepared to accept it as security to advance a loan.
Malik Noorani, whose Maktabe-i- Daniyal has published the works of Faiz, Mushtaq Yusufi and Josh, considers himself to be lucky if he breaks even. “You have to be an entrepreneur, gambler and philanthropist to be a publisher. You also need a Qarun ka khazana and Ayub ka sabr,” sums up Mr Noorani, “I do not have the first, though I have the second.”
He admits that he manages to sell off all the books he publishes because he prices them abnormally low, which would not be feasible were he not subsidising his publications from his income from the sale of law books through the Pakistan Law House, which he runs at the Pakistan Chowk. In law books it is a seller’s market, Continue reading Publishing industry’s travail : Book production a high risk business