May 31
FAP GETS 2ND TRANCHE OF 2006 MMFF-P SHARE by fapweb  |  Posted in Articles  |  on Thu, May 31, 2007

The Metropolitan Manila Development Authority released the 2nd tranche of shares from the amusement taxes amounting to P300,000 to the Film Academy of the Philipines during the meeting of the Executive Committee of the 2007 Metro Filmfest last Monday, May 28.

Five other beneficiaries–the Mowelfund, the Social Fund of Malacañang, the Film Development Council of the Philippines, the Movie Industry Anti-Piracy Organization, Inc. (MIAPOI) and the Optical Media Board—also received the second tranche of their shares.

The first tranche of P800,000 was given last March 9 during the launching of the 2007 Metro Manila Filmfest at the Wack Wack Golf and Country Club in Mandaluyong.

The FAP will be getting just 10 percent of the shares from amusement taxes in the filmfest. It was getting a 30 percent share of the filmfest earnings up to 2005. But this was drastically cut to 10 percent, which caused budgetary constratints that hobbled the Academy.

To tide over the Academy last year, Malacañang donated a P3 subsidy to help the Academy stay afloat in the face of budgetary difficulties. The subsidy was turned over to the FAP in two tranches of P1.5 million each in May and December. The second check was turned over by Presidential management Staff Chief Cerge Rimonde FAP Director General Leo G. Martinez two weeks before Christmas

The subsidy, together with the P1.35 million share the academy received as its share of the 2005 Metro Manila filmfest earnings, kept the academy going for the whole of 2006.

Some other workshops and seminars last year were funded by the National Commission for Culture and the Arts.

The Malacañang subsidy enabled the FAP to hold its 24th annual Luna Awards and implement other FAP projects that included the Academy’s Scriptwriting-Storyline contest and the upgrading of the FAP website.

Director General Martinez said that the Academy will be seeking subsidy from the Social Fund of the President if the FAP share from the Metro Manila filmfest remained at 10%.

He said that the Luna Awards will have its silver anniversary this year. This early, the academy must find ways and means to generate funds to make the 25th year anniversary of the Luna Awards meaningful, Martinez stressed.