Egypt's National Press Authority (NPA) has said that a one-pound-increase in the price of daily and weekly newspapers is to make up for the losses press institutions incur.

In a statement on Monday, the NPA said that the increase should go towards improving newspapers in form and substance and provide readers with a high quality product to ensure steady newspaper circulation and boost competitiveness.

Egypt's national press institutions incur heavy costs due to the rising price of raw materials, the authority said.

The new pricing is part of a comprehensive plan to reform the financial and funding structures of national press institutions, the authority said, noting that the plan's details will be unveiled soon.