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Tollywood producers welcome Jagan government's 'restart package'

Saturday, December 19, 2020 • Telugu Comments

Tollywood producers welcome Jagan governments restart package

The Jagan Mohan Reddy government on Friday announced a "restart package" to help the exhibition sector in Andhra Pradesh. As per the package, 1100 theatres/multiplexes in the State will stand to benefit.

Fixed power charges have been waived for April, May and June this year. Additionally, the payment deadline for the next six-month period has been relaxed considerably.

As part of the package, exhibitors can also avail working capital loans. Separate loan amounts will be issued. For A and B class theatres, up to Rs 10 lakh loan will be provided. For C class theatres, up to Rs 5 lakh will be provided. These loans will come with a moratorium on interest payment for a period of six months. Besides, an interest subsidy of 4.5% will be borne by the government. This would cost Rs 4.18 Cr.

Dil Raju's Sri Venkateswara Creations has welcomed the measures. "We wholeheartedly thank @ysjagan garu, the Government of Andhra Pradesh and respective authorities for the concessions and incentives being suggested for the film industry. These steps go a long way towards the restart of our film industry," the ace banner said.

Annapurna Studios wrote, "We thank the Honourable Chief Minister of Andhra Pradesh @YSJagan for 'Restart Package' that will support the many that are dependent on our Film Industry. Thankful to the incentives offered to revive the affected the film industry during these uncertain times."

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