NEW DELHI: The Cinemalaya Philippine Independent Film Festival has cancelled plans for a feature film competition this year.

Organisers blame the decision on the late approval of this year's budget, which was only confirmed in December.

Indications had come in November of the potential cancellation of this year's New Breed competition section after CCP vice president Chris Millado raised the possibility at a forum in Vietnam.

In place of its competition section, this summer's 11th edition- held 7 to 14 August, 2015- will host a retrospective of selected features from its first 10 years. The competition will return in 2016 without the New Breed section.

For its 12th edition, Cinemalaya will increase its grants from 500,000 to 750,000 ($17,000). The ten finalists — who will have 12 months to produce their films — will be announced at the closing ceremony of this year's festival.

The festival will remain at the Cultural Center of the Philippines | Sentrong pangkultura ng Pilipinas despite interest to relocate the event in Metro Manila's Quezon City by its mayor. Additional screenings will be hosted at regular partner malls in Makati City and Quezon City within Metro Manila.

Earlier this month, film director Laurice Guillen was appointed president of the Cinemalaya Foundation. She previously held the position of competition chairman.