November 20: Tourism entrepreneurs have expressed their concern over the implementation of Business Continuity Loan Disbursement Work Procedure. The implementation of the scheme has been delayed for a long period.
Although the government has endorsed the Business Continuity Loan Disbursement Work Procedure-2077, the tourism entrepreneurs have expressed doubt regarding getting relief as per the law.
The tourism sector has been included in the most-affected areas as the loan has been classified into three types, namely, the most affected areas, the medium affected areas and the least affected areas.
The tourism entrepreneurs have responded that the government has brought the procedure late and there are still concerns over its implementation and relief to the entrepreneurs due to lack of resources.
Binayak Shah, the first vice-president of the Hotel Association of Nepal (HAN), informed that although hoteliers have welcomed the procedures, it has not benefited the business community. "The implementation has been delayed,” he said.
The procedure has finally been passed after a long delay. However, the amount in the fund is not yet certain. In such a situation, the duration and procedure to get the soft loan from the fund introduced by the government is likely to take time.
“Given such situation when will we get the soft loan and when shall we resume our business?” Shah questioned.
He is of the opinion that there is ample room to doubt that the entrepreneurs will get relief from the the government.
Similarly, Shiva Adhikari, the current president of the Nepal Association of Rafting Agencies informed that small and medium entrepreneurs will not be able to get relief from the fund as many entrepreneurs aren’t associated with banking and finance.