Daily Times

The Punjab government has announced special concessions on provincial taxes for entertainment-related services.

To meet the IMF’s conditions, provinces will need to reduce their dependency on the federal government. Industrialists and traders are urged to pay their due taxes instead of seeking exemptions. To promote the film industry, a dedicated tower will be constructed in the Nawaz Sharif IT City. Quality films by filmmakers will naturally attract audiences to cinemas. Cinema owners are encouraged to support local filmmakers rather than insisting on screening Indian films. Reviving Punjabi films will restore the vibrancy of cinemas.

These remarks were made by Punjab Finance Minister Mujtaba Shuja-ur-Rehman during a meeting with a delegation of film producers and the Cinema Association led by renowned singer Waris Baig. The provincial minister informed the delegation that only 20% of the province’s resources come from its own revenues, with the remaining 80% dependent on federal allocations. Expanding the tax net is essential to increase provincial resources; however, the Punjab Government does not want to eliminate the limited entertainment opportunities available to the public. Therefore, concessions will be given to the entertainment industry on provincial taxes. Filmmakers and producers should also focus on the revival of small cinemas, particularly through traditional Punjabi filmmaking. A significant portion of the film audience in Punjab cannot afford tickets to digital cinemas.

The provincial minister also shared that ten towers are being constructed in the Nawaz Sharif IT City, with investments from China on six towers, the UAE on two, and the Punjab Government on the remaining two. He noted that the economy stabilized under the PMLN government in Pakistan, inflation rates decreased after many years, and the prices of essential goods were controlled. Foreign investors’ confidence has been restored, with commitments for increased investment from China, the UAE, and Saudi Arabia. Additionally, the Punjab Government will ensure a reduction in electricity bills in the upcoming fiscal year’s 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 consumers using up to 300 units, benefiting 8 to 9 crore people. Gas bills will also be significantly reduced with a project in collaboration with Iran.