JPF maintains same level of profit in 2013

AMMAN — The Jordan Press Foundation (JPF) on Sunday elected Samih Maaytah as board chairman and Mansour Nabulsi as deputy chairman during a board meeting following a general assembly meeting that was held earlier in the day.

During the meeting, the newly elected board asserted their commitment to pursuing policies to reduce expenditure and manage resources in a manner that fosters the JPF’s stability and safeguards employees’ rights. 

Meanwhile, JPF Director General Ibrahim Dweiri unveiled a board decision under which Al Rai’s new printing press near the airport road will become an independent corporate body. 

The decision is in line with the JPF’s restructuring plan.   

The JD37 million complex, constructed on a 10,000-square-metre plot of land, was inaugurated last year.

In 2013, the JPF, which publishes Al Rai Arabic daily and The Jordan Times, maintained the same level of aggregate profit, recorded in 2012, at JD4.7 million. 

Although JPF’s revenues went down to JD19.1 million in 2013 from JD20.4 million in 2012, due to a 17 per cent drop in advertisement earnings, the JPF managed to cut down its losses from JD4.6 million in 2012 to JD1.04 million in 2013.  

During its general assembly meeting, Deputy Abdul Rahim Biqaai and Amman Chamber of Commerce President Haidar Murad were elected as new board members, replacing Yanal Bustami and Azmi Al Kayed. 

Moreover, a representative of the Arab Bank was re-elected as a board member, representing the private secor.  

Board membership for the Social Security Corporation’s four seats was renewed while its fifth seat remained under the name of Rama Company for Saving and Investment.

Besides Dweiri, the SSC representatives include Maaytah, Suhair Al-Ali, Abdel Hafiz Ajlouni, and Mohammad Tarawneh as representative of Rama company.