LAHORE: Punjab Finance Minister Mujtaba Shuja-ur-Rehman has said that concessions would be given to the entertainment industry on provincial taxes.
He expressed these views during a meeting with a delegation of film producers and the Cinema Association led by renowned singer Waris Baig here on Saturday. The delegation included Zulfiqar Ahmed, Chairman of the Pakistan Film Producers Association, producer and director Shehzad Rafiq, Safdar Malik, General Manager of Q Cinemas Rabia Khan, General Manager of Cinepax Cinemas Azhar Joya, General Manager of Universal Cinemas Ghobash Ahmed, and Nadeem Mandviwala.
The Minister further said that the Punjab government does not want to eliminate the limited entertainment opportunities available to the public, thus concessions will be given to the entertainment industry. “Filmmakers and producers should also focus on the revival of small cinemas, particularly through traditional Punjabi filmmaking. A significant portion of the film audience in Punjab cannot afford tickets to digital cinemas,” he added.
He informed the delegation that only 20 percent of the province’s resources come from its revenues, with the remaining 80 percent dependent on federal allocations. “To meet the IMF’s conditions, provinces will need to reduce their dependency on the federal government. Industrialists and traders are urged to pay their due taxes instead of seeking exemptions. Thus, expanding the tax net is essential to increase provincial resources,” he added.
He also shared that 10 towers are being constructed in the Nawaz Sharif IT City, with investments from China on six towers, the UAE on two, and the Punjab Government on the remaining two. He noted that the economy stabilized under the PML-N government in Pakistan, inflation rates decreased after many years, and the prices of essential goods were controlled. Foreign investors’ confidence has been restored, with commitments for increased investment from China, the UAE, and Saudi Arabia, he added.
“Additionally, the Punjab government would ensure a reduction in electricity bills in the upcoming fiscal year’s budget. Solar systems will be installed for consumers using up to 100 units, and within the next three to four years, free electricity will be provided to consumers using up to 300 units, benefiting 80 to 90 million people. Gas bills will also be significantly reduced with a project in collaboration with Iran,” he said.
On this occasion, the film producers and cinema owners emphasized the need for government support to revive the film industry. They proposed holding seminars, international conferences, and dialogues on filmmaking, as well as screening films from other countries in cinemas.
The Minister assured the delegation of full cooperation from the Punjab Government.
Copyright Business Recorder, 2024
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