Pokhara, October 7 : Tourism entrepreneurs have claimed that the banks and financial institutions (BFIs) are acting against the current monetary policy by exerting pressure on them for the repayment of loans.
They came up such a claim at an interaction organized by the Gandaki Chapter of the Nepal Association of Tour and Travel Agents (NATTA) yesterday. “By listing the tourism sector as one of the areas most affected by the COVID-19 pandemic, the monetary policy issued by the central bank for the current fiscal bars the BFIs from asking the related entrepreneurs for loan repayment for certain period,” chairperson of Pokhara Tourism Council, Chiranjivi Pokharel, said, adding,” But, unfortunately, they (BFIs) are grossly refusing to comply with such policy.”
It is said that the loans floated by the BFIs account for a whopping 75 percent of the Rs 140 billion invested in the tourism business of Pokhara.
Speaking on the occasion, Chair of the Gandaki Chapter of the NATTA, Sanjaya Kanta Sigdel, said, “We are committed to clear the debt when the the adverse economic impacts on the tourism sector subsidy. The BFIs shall understand this and refrain from piling the unwarranted pressure on us for the same .”
Similarly, Director of the Pokhara branch of the NRB, Iswori Prasad Bhattarai, said. “Of course, the BFIs can ask the financially capable tourism entrepreneurs to repay the loan amount. However, they should do so when it comes to those tourism entrepreneurs who are economically bankrupt
He further said that the most-affected entrepreneurs would be provided with further loans if thy meet the necessary criteria.
Chairperson of Nepal Bankers’ Association Gandaki Deependra Sharma said the businesspersons belong to the tourism sector should not term the telephonic follow-up of the banks for loans repayment as a scary pressure. According to him, such follow-up might also mean be to collect advice from them to resolve the problem
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