He said alternatives to democracy brought immense sufferings to the nation earlier.

Reiterating his peace formula between the two rival camps, Yunus said, "There is no alternative to election." "The rival parties must reach an understanding for the national election."

Addressing the 52nd founding anniversary of the National Press Club, Yunus said time has come for journalists to issue a wake-up call to the nation. A major role of the media is to guide the nation during crisis, he pointed out.

"If democracy survives we will be able to stand as a great nation. Otherwise, the next generation will blame us for our failure."

He also advised journalists to be more cautious about publishing negative sides of the society. "The media are much enthusiastic about negative news than positive information," he observed.

People become frustrated, as they always see negative news about the country, he said. He asked the journalists especially the young newspersons to take interest in positive sides of the society.

Yunus also criticised a section of newspapers, saying, "There is a trend in the newspaper industry to divert news from one direction to another."

Appreciating technological advancements in local media, he suggested improvements in contents as well. If the standard of the content goes up people's confidence in media will increase, he said.

Yunus said he proposed 'an all-party government' formula for peace but some newspapers reported it as 'coalition government'. "This makes people confused and embarrasses me."

Reazuddin Ahmed, president of National Press Club, called upon the Nobel laureate to the join journalists' struggle to establish the right to know.

Ahmed said the nation can see the light of hope in Yunus speeches. "You [Yunus] show the way to overcome the existing crisis and motivate the people through your good words," Ahmed said.

Yunus was also given the honorary membership of National Press Club. The founding anniversary of the club was celebrated in a festive mood.