AP government provided a big relief to theatre owners in the state. The government announced waivers and subventions to help the cinema industry. I&PR department issued a G.O providing further details.
The government has waived off the electricity charges for all the theatres including multiplexes for the months of April, May, and June 2020. It has also given an option of differing the payments by another six months from July to December.
Grants for 50% of the interest subvention for the loans availed by the cinema theatres for single screens have also been announced. This will amount to a maximum limit of 4.5% per annum. As per the order, “The maximum loan amount up to which interest subvention will be given is Rs10 lakh for ‘A’ and ‘B’ centers and Rs 5 lakh for ‘C’ centers. The interest subvention will be applicable for a period of one year after the moratorium period of six months. This package is not applicable to Multiplexes.”
The government took into cognizance the pleas of the film industry announced these measures causing big relief to theatre owners. Last year a representation from the Telugu Film Chamber of Commerce (TFCC) met the Chief Minister over the issue.
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