YS Jagan Mohan Reddy’s government has announced a ‘restart package’ to help the exhibitors in the state of Andhra Pradesh. The exhibition sector has taken a severe beating with the lockdown. This package is rolled out to bail out the sector from a deep financial crunch.
As many as 1100 single-screen theatres/multiplexes will be benefitted from this package. The fixed power charges are waived off for April, May, and June. Besides, a considerable amount of time is also given relaxing the deadline for the next six months payment.
Apart from that, the exhibitors can avail of working capital loans and the government will bear a 4.5% interest subsidy amounting to 4.18 Cr. And also, a moratorium period of six months is provided to ease the burden on the theatre owners.
Megastar Chiranjeevi welcomed the AP Government’s decision and thanked the Chief Minister on Twitter. ‘My sincere gratitude to @YSJagan garu for the very compassionate #CinemasRestartPackage for Exhibitors. The various relief measures are the need of the hour for the sustenance of Theatres & #TeluguFilmIndustry as a whole & will greatly benefit the livelihoods of thousands of families.’ tweeted Chiranjeevi.
Similarly, several producers including Dil Raju and production houses like Annapurna Studios welcomed the move and appreciated the step taken by the government to breathe life into the plummeting exhibition sector.