Kathmandu, April 5

A delegation of the Hotel Association Nepal (HAN) under the leadership of its President Shreejana Rana paid courtesy call to the newly elected Minister for Finance Prakash Sharan Mahat and informed him that the hotel and tourism industry, which has been heavily affected by the COVID-19 pandemic, has not yet recovered and that the businessmen are left with no option but to shut down their businesses.

Submitting a four-point memorandum, HAN President Rana requested Minister Mahat to solve the burning problems demanded by hotel entrepreneurs all over the country as many are still operating at a loss due to the lack of tourist traffic.

As listed in the memo submitted by HAN, the umbrella association has requested the government to recognise the hotel industry as a national priority industry as the sector comprises huge investments, and is the main source of earning foreign currency and generating employment.

Stating that the interest rates are too high and have created an unfavourable environment for investment, HAN has urged the minister to reduce the interest rate and make the environment more business-friendly. HAN has also requested for extension of the deadline for repayment of loans and principles and to provide facilities for rescheduling and re-financing as the tourism sector is only gradually recovering from the effects of the pandemic.

A version of this article appears in the print on April 6, 2023, of The Himalayan Times.