HAN submitted suggestion for protection to Finance Minister

KATHMANDU, Dec 28: The Hotel Association Nepal (HAN) has submitted suggestions to Finance Minister Bishnu Poudel to save the overall economy and protect the hotel industry.

A team of officials and members led by Shreejana Rana, president of HAN presented it to the Finance Minister for protection on Wednesday.

While congratulating on being appointed as Finance Minister, President Rana expressed her gratitude to the HAN for the supportive decisions taken during the minister's tenure and hoped that the lost achievements would be regained.

President Rana clarified that the hotel and tourism industry, which has been heavily affected by the Covid-19, has not yet recovered and the tourism business has not been revived and businessmen are closing their businesses and fleeing.

Even though the Corona outbreak is not in the same condition as before, its forms are spreading and the lack of tourist traffic and activities compared to the capacity, it is still difficult to meet the operating expenses and daily operations at a loss.

In addition, there was a discussion about not implementing the current capital loan guidelines issued by Nepal Rastra Bank immediately, and recognizing the hotel industry as a productive industry, which plays a direct role in the revival of the economy, as a priority industry.

HAN has submitted three points for immediate solution.

Regarding the interest rate: The rising interest rate of the bank is unsustainably high in a highly sensitive industry like hotels and it is unfavorable for conducting business and attracting investment, so it should be reduced and made business friendly.

Regarding the time limit: As there is a strong demand from the bank to pay the principal and interest within the limit, the hotel businessmen across the country are protesting, so the specified time limit should be extended and further facilitated.

Regarding rescheduling and reloaning: The rescheduling and reloaning facility, which has not been addressed through the quarterly review of monetary policy, has been specifically requested to be made clear and implemented through the upcoming half-yearly review.

On this occasion, Finance Minister Paudel expressed his belief that the ministry is ready to improve the country's economy and that steps will be taken for the development and expansion of industry and business and it will be facilitated.

Senior Vice President Vinayak Shah, General Secretary Sajan Shakya, Working Committee members Gopal Rana, Yuvraj Shrestha, Ramkumar Puri, Thakur Pokharel, members Shashikant Agarwal, Rani Bang and others were present in the delegation.