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The Press Advertisement Institution (BİK) held a meeting after President Recep Tayyip Erdoğan's appointment of 12 new board members on February 18.
In its first meeting for over a year, the 36-member board of directors discussed the public ad fees.
The board increased ad fees by 71.57 percent for newspapers with a daily circulation of less than 50,000 and by 27.66 percent for newspapers with a daily circulation of over 50,000.
The increase will come into effect after the president's approval.
The increase rates are similar to what the press organizations have demanded.
Nuri Kolaylı, head of the Confederation of Journalists of Turkey, said the decision was "relieving" for local newspapers that were on the verge of shutting down due to the extraordinary increase in costs and foreign exchange rates.
Founded in 1961, the BİK's duty is to place public ads and notices in newspapers in order to support them financially.
Having distributed over 400 million lira (1 US dollar = 13.80 lira) to newspapers in 2020, it is a major source of revenue for especially smaller outlets.
In the recent years, the agency has been criticized for taking punitive measures, such as imposing ad fines, against newspapers critical of the government. (HA/VK)
