Monetary policy review further discourages tourism sector: HAN

KATHMANDU, Nov 30: The Hotel Association Nepal (HAN) has responded that the first review of the Nepal Rastra Bank's monetary policy has further discouraged the tourism industry.

HAN said that the monetary review has made the tourism and hotel businessmen, who have been hit by Corona, more disappointed by the fact that the banks are repeatedly asking them to pay interest on the capital. He objected that even the minimum demands of the hoteliers could not be met, despite the assurance that some relief would be provided through the review, while there is a nationwide agitation due to the high interest rates.

"We have advised to make a political arrangement to help the revival of the hotel industry through monetary and other policies," said HAN's statement, "Especially the hotel industry has to extend the time period for this, as the principal and interest to be paid to the banks have dropped to zero during the Corona period. .'

HAN is of the opinion that the review has not addressed any kind of arrangement, although it has been requested to reduce the excessively increased interest rate and make arrangements with practical and easy clarity in the management of recapitalization and re-loaning to operate the hotel.

It has been asked not to analyze the contribution of the hotel and tourism industry to the country's economic growth only as mathematical figures.

It has been asked to adopt flexibility in monetary and financial policy for the protection of hotel business without ignoring the aspects of job creation through tourism industry, the main source of foreign exchange earnings, expansion of international relations and multifaceted development.