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Budget allocation for National Film Academy in Pakistan lauded
Lollywood: The film industry of Pakistan has hailed the allocation of funds for the establishment of National Film Academy (NFA) in the budget for fiscal year 2018-19.
Renowned artists of the country, including Qavi Khan and Mustafa Qureshi, have expressed their pleasure over the allocation of Rs47 million for a proper film academy. They also hailed the decision of reduction in taxes on import of film equipment.
Pakistan National Council of Arts would also play a role in establishing the film academy.
According to senior officials of PNCA, the director of their organisation aims to set up cinema screens in the academy.
PNCA Director General Syed Jamal Shah said his institute aims to work towards the revival of art in the country.
To support this claim, Shah said his organisation has decided to launch youth clubs for music, theatre, dance and performing arts in the country.
The government has been allocated an amount of Rs47 million for the establishment of NFA.
Moreover, the federal government has also extended the proposal for a package in new budget for the film industry.
As per the budget proposal, the customs duty would be reduced to 3% and sales tax on the import of goofs and machinery related to films and drama would be brought down to 5%.
It has also been proposed that income tax may be reduced to 50% for the people and companies investing in filmmaking. The 50% concession would also be given to those foreign companies that will produce films in Pakistan.
Besides this, a revolving fund will be allocated to help artists and film technicians in need of financial help.
The budget proposal stated there was a great need to uplift the Pakistani film industry that was on number three until the 1960s.