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Andhra Pradesh Government announces relief to film industry

Chief Minister YS Jagan Mohan Reddy
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AP Chief Minister YS Jagan Mohan Reddy

Highlights

  • GO issued waiving fixed electricity charges for theatres, including multiplexes, for three months i.e. April, May and June 2020
  • The govt will also provide 50% interest subvention subject to a maximum limit of 4.5% per year for loans availed by the movie theatres from banks

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Amaravati: The state government issued orders on Tuesday waiving fixed electricity charges for three months to theatres and on interest subvention.

As per the orders, the waiver of fixed electricity charges is applicable for the months of April, May and June 2020 and deferred payment of fixed electricity charges for the period of six months from July 2020 to December 2020 for all theatres, including multiplexes.

In addition, the government will provide 50 per cent interest subvention subject to a maximum limit of 4.5 per cent per year for loans availed by movie theatres from banks. The maximum loan amount up to which interest subvention will be given is Rs 10 lakh for A and B centres and Rs 5 lakh for C centres.

The interest subvention will be applicable for a period of one year after moratorium period of six months. This package will not be applicable to multiplexes. Ex-officio special secretary to government (information and public relations) and managing director of AP SFTVTDC T Vijay Kumar Reddy issued orders to this effect.

It may be noted that the Telugu Film Chamber of Commerce called on Chief Minister YS Jagan Mohan Reddy on June 9, 2020 and submitted a memorandum requesting relief to the film industry in view of Covid pandemic.

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