KATHMANDU, June 8: The Nepalese Tour Operators and Travel Agents Association (NATTA) called on Nepal Rastra Bank, Nepal’s central bank, to implement a monetary policy that is favorable to tourism entrepreneurs.
A panel led by NATTA Chairman Ramesh Thapa on Tuesday reached out to NRB Governor Maha Prasad Adhikari and urged him to introduce a monetary policy capable of restoring pandemic-hit tourism businesses.
NATTA has put forward a demand for continued refinancing within five years to revive the ailing travel industry. The delegation told Gov. Adhikari that while the pandemic-hit tourism industry was slowly recovering, the changes in the refinancing procedure imposed by the central bank had a negative impact on the entire industry.
Other demands put forward by NATTA include the creation of conditions for repeated payments without penalties, the organization of a “cash back encouragement” and the facilitation of credit inflow into the tourism sector.
NATTA urged the Governor to consider their demands when tourism entrepreneurs are unable to repay bank loans on time due to the unprecedented impact of COVID-19.