The glamour world of heroes and heroines appears to be getting into the twilight as the state-backed film development corporation runs up cumulative losses in an outmoded movie business.
Officials said Bangladesh Film Development Corporation (BFDC) stands far off from modern technologies which are badly needed for production of trendy movies.
The state-of-the-art technologies are now being used in different fields of the country. But this state-owned corporation is far away from modern age when people of cine-going age are charmed by action movies on mobile phones and television, they said.
The corporation has been incurring losses since the fiscal year (FY) 2006-07. The amount of cumulative losses is swelling every year, FDC insiders said.
Information Minister Hasanul Haq Inu has recently sent a letter to Finance Minister AMA Muhith, seeking a grant of Tk 158 million for BFDC to continue its development works, said a high official of the finance ministry.
In his letter, Inu said, "The Corporation counted a loss of over Tk 473 million in last ten years. The volume of losses of BFDC has been increasing gradually."
The government has not provided any allocation in the revenue budget in favour of BFDC since its inception, he mentioned.
"An allocation of over Tk 158 million is needed urgently for the BFDC's survival," a high FDC official said.
Presently, more or less 295 permanent employees are serving in BFDC. Besides, some are serving in the film-development agency on a temporary basis.
"The operational activities of BFDC are being hampered severely due to lack of necessary funds. So, a revenue allocation is needed urgently to run BFDC properly," a senior official of the corporation said.
"Most people of the country do not go to cinema for watching films due to low standard of movies. They have now turned to internet and TV channels to watch foreign films and drama serials," he said.
As a result, the existing cinemas are closing down one after another, industry insiders said.
Out of 1,230 cinemas, more than 908 have gone bust over the last one decade, according to data available with Bangladesh Cinema Hall Owners Association (BCHOA).
BFDC was established on April 3, 1957, aiming to preserve and promote tradition, culture and values of the country through inspiring the filmmakers and providing them with various facilitates and supports so that they could produce good movies and help promote a healthy cine-culture in the country.
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