Recently, Information Minister Marriyum Aurangzeb, commented on how the government was working to introduce tax exemptions and beneficial reforms for the film and media industry. And as it seems, there has finally been some concrete work done on the recommendations.
According to a daily, Prime Minister Muhammad Nawaz Sharif has finally announced a special package for the well being of our entertainment industry, the welfare of artists and promotion of the Pakstani film industry.
Under the package, an Artists Welfare Fund will be established, focusing specially on the the welfare and financial assistance of artists along with the Film Finance Award. Also, as per the program, a National Film and Broadcast Commission and National Film Institute and Academy will also be established with the availability of state of the art facilities. With all this being provided at these institutions, one can hope to better the film industry of Pakistan.
In a rather generous gesture, the government has also introduced special concessions on the import of equipment used in film industry, to ensure film makes find all the needed facilities for film development within Pakistan only.
The film industry has also been exempted from taxes and duties to encourage major investments and people associated with the field.
Seems like the government has finally succeeded in going ahead with the promises it made at the HUM Awards night in Lahore. For starters, the special packages promise a bright future for the film industry in the country.
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This seems like a good start, however I don't think it will provide any International co-production opportunities for Pakistan Film Industry.
ReplyDeleteThe government needs to evaluate the potential return on investment by focusing on co-production treaties and tax incentives on Pakistan spend....
The potential to attract foreign investment in Pakistan which is a tough sell outside of Pakistan is the key for inward investment.
Investment in the skills (Technical) is an important factor for the animation and VFX Industry; it is my belief that Pakistan has those talents but not the experience and I will attempt to deliver one Animation production as an International co-productions initiative in 2018, and see how we do before bringing more projects from Europe, anyway that's another discussions nevertheless good to see some positive movement in the right direction.
M