Pakistan announces tax exemption for film production and cinemas

KARACHI – During the Icon Awards 2023 event at a local hotel, Federal Minister for Information and Broadcasting Marriyum Aurangzeb announced a significant boost to Pakistan’s film industry.

She revealed that the government has taken measures to promote film production and cinema by exempting them from income tax.

Aurangzeb highlighted the meticulous efforts behind the formulation of the country’s inaugural Film Policy, which commenced in 2016 and gained approval in 2018. The policy’s development was a result of extensive consultations with artists, producers, and stakeholders in the film industry.

The minister credited the input from esteemed senior artists in shaping the Film Policy and acknowledged former prime minister Nawaz Sharif for the recognition of films as an industry. Under the initial provisions of the policy, cinemas are now granted a five-year exemption from income tax, while import duties on cinema equipment have been waived, and sales tax has been abolished.

Aurangzeb also disclosed that the present government has established a Film Finance Fund of Rs2 billion for a year to support filmmakers, along with the creation of a Film Finance Committee. She underscored the pivotal role of artists in Pakistan Television (PTV) and highlighted recent initiatives such as the renovation of the PTV Academy after nearly three decades and the digitization of PTV archives for seamless online accessibility.

Radio Pakistan has also witnessed progress, with the establishment of twelve studios and the launch of a Voice Hunt program. The archives spanning 75 years of Radio Pakistan have been digitized. Additionally, Aurangzeb shed light on the impending approval of the inaugural Pakistan Music Policy, aimed at conserving, advancing, and safeguarding the nation’s musical heritage, thus projecting an authentic image of the country to the global audience.

A significant budget allocation of Rs1 billion each has been earmarked for the well-being of journalists and artists. During the ceremony, Sindh Governor Muhammad Kamran Khan Tessori and Sohail Ali Khan, the Secretary of Information and Broadcasting, who also serves as the Managing Director of PTV, addressed the attendees.

Subsequently, the Minister for Information and Broadcasting and the Secretary of Information and Broadcasting distributed Health Cards to artists. The event celebrated exceptional contributions to the film and music industries, honouring notable individuals including Javed Sheikh, Asif Raza Mir, Syed Noor, Sultana Siddiqui, Sheema Kermani, Sajid Hasan, Nadeem Mandviwala, Usman Pirzada, and others with prestigious awards.

Lights, camera, action: a cinematic feast this Eidul Adha in Pakistan

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