HAN expresses dissatisfaction with monetary policy

Kathmandu: Hotel Association Nepal (HAN) has expressed dissatisfaction with the monetary policy published by Nepal Rastra Bank (NRB) for the current fiscal year.
HAN has stated that the monetary policy has failed to address the existing problems in the hotel and tourism sector.

The HAN has taken the initiative to revive the hotel and tourism sector, which has been hit by extreme economic recession due to the war between Russia and Ukraine due to the war between Russia and Ukraine, through monetary measures such as refinancing, rescheduling, as well as low interest rates.

The budget and monetary policy of the current financial year indicate that the number of tourists has increased, and the economic activity has also increased, and the hotels, including those that are being added, have less than one-third of their total capacity, and there is also a loss in operation.

The review of the monetary policy of the last 3 months of the last financial year, stating that the hotels are unable to pay the principal and interest due regularly to the bank, provided that they can refinance and reschedule the principal and interest due.

However, the hotel and tourism sector is confused because there is no such provision in the current monetary policy, according to the association.