Over Rs.60 million loaned by the National Film Development Fund at the National Film Corporation for the production of films and theaters have been identified as irrecoverable loans.
The total loan amount lent by the National Film Development Fund is Rs.73,155,000, of which 92% is irrecoverable.
A report by the Auditor General revealed that the collapse of the film industry, lack of adequate measures to recover loans and management inefficiencies have led to this situation.
The Auditor General has recommended the National Film Corporation to adopt different methods to recover these loans.
