In order to revive the film industry, the income of cinemas has been exempted from tax for the following 10 years, and the business sector is also being urged to participate in the field, according to Minister for Information and Broadcasting Marriyum Aurangzeb.
Speaking to the winners of the National Amateur Film Festival Awards in this location, the minister expressed his happiness that the country’s film sector is being revitalized as a consequence of the current administration’s wise measures.
She emphasized the benefits provided by the government to the film sector, stating that both their income and imported gear used in the creation of films and plays have been protected from tax.
Additionally, she continued, movie income from cinemas have been exempt from taxation for the ensuing ten years.
Revival of Pakistani Cinemas By Providing Tax Exemption
She added that the government has announced the Film Finance Fund of Rs. 2 billion with the purpose of providing grants to the aspiring filmmakers, and that the business sector is also being urged to invest in the film industry.
She argued that the best method to spread the nation’s story was through screen tourism, and that the Film Finance Fund and other tax breaks for the film industry would not only benefit the cinemas business but also fill in some of its deficiencies.
She claimed that a number of for-profit colleges and universities, including LUMS, NUST, and Iqra, started offering degree programs in drama and filmmaking.
She emphasised that the Pakistani film industry did not continue to grow from 1970 to 2000, but that it started to do so after that year.
She continued by saying that the nation’s big media companies each created films, which sparked the nation’s film industry’s resurgence. She regretted, however, that the film business is not developing further as a result of the absence of movie cinemas.
“Last year, when our government came again, we started a film division under the Ministry of Information. Presently, there is zero tax on Pakistan’s film industry,” she said, adding that there is also zero tax on import of equipment related to film making, cinema and production.
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