Uzbekfilm's debts reached €22.9 million.
Uzbekfilm's loan obligations have reached €22.9 million, and the film studio is facing the sale of its cars due to tax arrears.
Uzbekfilm's debt has reached €22.9 million.
First Deputy Minister of Culture and Director of the Cinematography Agency, Jakhongir Akhmedov, reported that Uzbekfilm's current loan obligations amount to €22.9 million. The company's property, including land, serves as collateral for these loans.
Akhmedov also noted that the film studio's financial difficulties are not limited to loans. Due to tax arrears exceeding 1 billion soums, there is a risk that 12 cars listed on Uzbekfilm's books will be auctioned. According to Akhmedov, this could happen within the next 12 days.
In addition, the film studio has accumulated significant wage arrears. Akhmedov emphasized that to sustain its current operations, Uzbekfilm needs to fulfill orders worth at least 60 billion soums annually. He assessed that, in practice, the film studio has become dependent on government contracts.
The Director of the Cinematography Agency also stated that Uzbekfilm lacks an effective business model and has been unable to adapt to market conditions.
According to him, the goal is not only to preserve the film studio but also to carry out a comprehensive reform.
The plan is to create a national film company that will boast financial stability, a modern management system, unite creative teams, attract private investment and international partners, and independently promote film products to the market.