Multiplex owners meet FM Nirmala Sitharaman to seek relief

NEW DELHI:  After facing a major loss of business on account of the lockdown, multiplex owners met finance minister Nirmala Sitharaman on Friday demanding a relief package for the ailing industry.

The delegation was led by Sanjeev Kumar Bijli, joint managing director of PVR Ltd and Kamal Gianchandani, chief executive officer, PVR Pictures, along with actor and BJP MP Sunny Deol, among others. “The delegation explained the problems faced by the sector.

Among their major demands was the relaxation of restrictions, waiving of tax and access to affordable finance,” a senior official aware of the meeting said. The entertainment sector was one of the worst hit by the Covid pandemic.

Even now, multiplexes are not allowed to run at full capacity with major restrictions over food services too. The high power bills, maintenance costs, and reduced capacity is making it difficult for them to do business, representatives said, adding that they are facing serious competition from OTT platforms. 

According to a recent KPMG report, the film business in India is expected to contract by 67 per cent over FY21. In this context, the Budget is of key importance for the sector. While the vaccination drive is expected to restore some normalcy, the sector is expecting some hand holding from the government.