The Uzbek film studio Uzbekfilm has accumulated credit obligations totaling 22.9 million euros. The company's assets, including land plots, have been pledged as collateral for the loan. This was reported by Jakhongir Akhmedov, the First Deputy Minister of Culture and Director of the Uzbek Film Agency.
According to Akhmedov, the studio's financial difficulties are not limited to the credit debt. Furthermore, the tax debt exceeds 1 billion soum, which jeopardizes the auction of 12 vehicles listed on Uzbekfilm's balance sheet, and this could happen within the next 12 days.
The film studio also has significant salary arrears owed to its employees. Akhmedov noted that for Uzbekfilm to cover its operating expenses independently, it needs to secure annual orders amounting to no less than 60 billion soum, effectively making the studio dependent on state orders.
The Director of the Uzbek Film Agency also emphasized that Uzbekfilm lacks a business model and has not transitioned to market mechanisms. In Akhmedov's opinion, the task is not only to preserve the film studio but also to conduct its fundamental reform.
The plans include the creation of a national film company that will be financially sustainable, operate based on a modern management system, unite creative teams, attract private investments and international partners, and independently bring film products to the market.