Concessions for Entertainment Industry: Punjab Finance Minister
LAHORE: Punjab Finance Minister Mujtaba Shuja-ur-Rehman has announced tax concessions for the entertainment industry in a meeting with film producers and the Cinema Association, led by singer Waris Baig.
During the meeting on Saturday, the delegation included notable figures such as Zulfiqar Ahmed, Chairman of the Pakistan Film Producers Association, producer and director Shehzad Rafiq, General Manager of Q Cinemas Safdar Malik, General Manager of Cinepax Cinemas Rabia Khan, General Manager of Universal Cinemas Azhar Joya, and Nadeem Mandviwala.
The Minister emphasized that the Punjab government aims to preserve the limited entertainment options available to the public. “We will provide tax concessions to support the entertainment industry. Filmmakers should also work on reviving small cinemas, especially through traditional Punjabi films, as many people cannot afford tickets to digital cinemas,” he said.
He pointed out that Punjab relies heavily on federal funds, with only 20% of its resources coming from provincial revenues. To meet IMF conditions, the province needs to reduce this dependency. “Industrialists and traders must pay their due taxes. Expanding the tax net is crucial for increasing provincial resources,” he explained.
Additionally, the Minister shared that 10 towers are under construction in the Nawaz Sharif IT City, with investments from China, the UAE, and the Punjab Government. He highlighted the economic stability achieved under the PML-N government, noting decreased inflation and controlled prices of essential goods. He mentioned that foreign investor confidence has been restored, with increased commitments from China, the UAE, and Saudi Arabia.
The Punjab government also plans to reduce electricity bills in the upcoming 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 those using up to 300 units, benefiting 80 to 90 million people. A project with Iran aims to significantly reduce gas bills.
Film producers and cinema owners urged the government to support the film industry’s revival through seminars, international conferences, and screening foreign films. The Minister assured them of full cooperation from the Punjab Government.