Hotel Association urges BFIs not to pile mental pressure for loan re-payment

Kathmandu - The Western Regional Hotel Association Pokhara has urged banks and financial institutions not to follow up for the repayment of principal and interest of the loan when the tourism sector has been invariably affected due to protracted lockdown against COVID-19.

The Association came up with the request drawing attention to the follow-up of banks and financial institutions to the tourism and hotel sector for re-payment of loan in view of closing of the current fiscal year. At a press release issued by the Association chair Bikal Tulachan, it is stated, "Right now no entrepreneur is in a position to repay banks loan. So, follow-up and undue mental pressure from banks and financial institutions for re-payment of debt in such critical time would create unfavourable situation.