Lawmaker files bill to accelerate economic recovery of film companies

ABS-CBN News

Posted at Jul 30 2020 02:14 PM

MANILA - House Committee on Economic Affairs chairperson Sharon Garin filed House Bill 7192 seeking to accelerate the economic recovery and performance of film companies and improve the vulnerable workers’ quality of life.

In an official statement released on Thursday, Garin said a lifeline must be provided for this highly-impacted sector, which provides employment to at least 2.8 million workers, mostly freelancers.

“The film industry suffered great losses due to the temporary closures of cinema theaters nationwide. Without augmentation of the funding for the film industry, the danger of the industry’s collapse is inevitable,” she said.

“The revenue losses have inversely led to the catastrophic shoot up of its unemployed population who mainly rely on the film industry to subsist,” Rep. Garin added.

Through the proposed measure, the Film Development Council of the Philippines (FDCP) in coordination with the Department of Information and Communications Technology (DICT) may grant subsidies or loans to film companies in order for them to shift to online platforms and have access to modern information and communications technology equipment. 

Furthermore, the bill proposes loan guarantees for affected film companies by the FDCP, in coordination with the Department of Trade and Industry (DTI), to augment their capital to bankroll projects or produce more quality content.

According to Garin, if House Bill 7192 would be enacted into law, “it will help produce a more viable film culture, galvanize film communities, and attract audiences in both domestic and global markets.”