Is Pakistan's media industry facing a financial crunch or a political failure?

This weekend hundreds working at Jang Media Group were fired as the group announced shutting down five newspapers. But what has compelled Jang to terminate 600 people in one go? Since the start of this new government, media houses have been terminating employees under the banner of financial crunch. Jang isn't the only one trimming itself. Dawn has reduced the number of pages it prints with increasing the price to Rs 30. Similarly, Dunya TV suspended two of its primetime shows and have made 10 to 35 percent pay cuts to its employees. But what's really going on in Pakistan's media industry? Is this a financial or a political failure? According to the media houses, the new government has cut off public sector advertisements and that is the main reason why media houses are cutting employees. Information Minister Fawad Chaudhry, says that the govt is working on preventing these lay-offs.