New Business Age

HAN Urges  Central Bank to Increase Concessional Loan to Rs 500 Million

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HAN Urges  Central Bank to Increase Concessional Loan to Rs 500 Million

June 22: The Hotel Association Nepal (HAN) has submitted a 10-point suggestions to the central bank to be included in the monetary policy for the upcoming fiscal year. HAN has suggested increasing the concessional loan from Rs 200 million to Rs 500 million and reducing the credit card fee from 3 percent to 1 percent.

HAN’s acting president Binayak Shah, general secretary Sajan Shakya and other officials met Governor of Nepal Rastra Bank Maha Prasad Adhikari and presented suggestions on monetary policy. On the occasion, Shah said that the tourism sector, especially the hotel industry, has been most affected by the Covid-19 pandemic and it is difficult to operate the hotels.

He also said that the budget of the Fiscal Year 2022/23 does not address the problems  of the tourism and hotel industry. Shah expressed confidence that  the issues left out  in the budget will be covered by the monetary policy. Stating that the financial condition of the hotel and tourism industry has not eased so far, HAN demanded arrangements for imposition of no penalty and interest till mid-July 2081 BS.

HAN also suggested rescheduling the existing loans with an extension of at least 3 years. HAN requested that the interest on the rescheduled loan be repaid in installments for a period longer than mid-July. HAN demanded that the hotels should provide dollar prepaid cards in the name of the designated person and make arrangements for easy acceptance of Indian Rs 500 and Rs 2,000 notes as well.


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