Tourism entrepreneurs demands fund announced by government for revival of tourism sector


27th Jul, 2020 | Tourism Mail Crew


KATHMANDU, July 27: The government has announced to resume tourism businesses including hotels and restaurants from July 30. Tourism entrepreneurs have been preparing to resume their business which was closed for the past four months. However, due to lack of immediate capital to run the closed business, they have demanded immediate fund provided by the government.

Nepal Rastra Bank (NRB) has said that there will be no shortage of capital for the revival of the tourism sector with the recent monetary policy provisions and an additional Rs 50 billion fund to be brought by the government. The tourism entrepreneurs have demanded the government to provide funds immediately as there is lack of working capital for running the business. The government has set up a fund of Rs. 50 billion through the budget to facilitate the payment of wages to the employees and workers in the tourism sector. This fund will be implemented immediately after the government makes it available to Nepal Rastra Bank.

Secretary at the Ministry of Culture, Tourism and Civil Aviation, Kedar Bahadur Adhikari, has requested the Ministry of Finance to set up a fund. "We have already requested for the establishment of a fund. However, no further information has been received from the Ministry of Finance, "he said. NRB has made various concessions in the monetary policy to make the tourism business run smoothly. 

Shreejana Rana, President of the Hotel Association Nepal (HAN), said that it would be easier for all entrepreneurs to work if the fund is set up soon after the decision has been taken to open hotels, trekking and mountaineering. "The concessions that the country has announced will provide an environment for fast consumption, which will keep the overall economy afloat," she said. Rana said that looking at the past of the government, there were doubts in the implementation of the policy. 

 

President of the Nepal Association of Tour and Travel Agents (NATTA), Achyut Guragain, said that the budget and monetary policy should be implemented in time as the tourism sector would create more jobs and the economy would move. He said that the fund will help to solve the problem of wages as the tourism sector has directly and indirectly provided employment to more than 700,000 people. For the tourism sector, Stakeholders expect the Rs 50 billion fund to help pay workers.