He exclusively blames General Zia ul Haq for the destruction of the movie industry in Pakistan because of his outlook towards it.
The bitter reality of the banks in Pakistan is that they are not lenient towards approving loans for the producers and directors of the industry; this fact is rather disappointing for him.
Top Indian filmmaker Mahesh Bhatt, who has in recent years led the way in hiring Pakistani actors, singers and composers in his films, welcomed the move.
Even during the ban, and despite a half-century of bitter rivalry between the two countries, Indian films are hugely popular in Pakistan.
Pakistani producers have worked secretly in India for years, getting around a government ban by purportedly going to visit family and friends but getting films edited and music composed in Bombay.
Pakistani cultural products are legal in India, and Pakistan's poetry, songs and television dramas are widely popular there.
Luqman has denied the charges and, in turn, pointed the finger at the Thai lab for failing to meet a previous commitment.
A letter from Technicolor stated that Mubashir Luqman Films owed them $80,000 and threatened legal action if the amount remained unpaid.