Leisure sector welcomes debt moratorium

Shirajiv Sirimane

COLOMBO: The leisure industry yesterday welcomed the Cabinet decision to provide a debt moratorium for the tsunami-affected hotels and also to defer the charging of US$ 10 from tourists visiting Sri Lanka.

A member of the Tourist Hotels Association said that providing a debt moratorium for the tsunami affected hoteliers is a timely move which would help them to survive.

"The Hoteliers soon after the tsunami took credit from banks to rebuild their hotels and since the arrivals were low last year they found it difficult to repay," he said.

The debt moratorium would give the affected hoteliers more time to pay back thus giving them breathing space. The association member thanked the Government and the Finance Ministry for intervening in this matter.

This decision would also help small time hotels damaged during the tsunami and also guarantee employment for these who were employed in them. "Without this debt relief some of the small time hotels would have to shut down," he said.

"The industrial sector has been granted a rebate from their electricity bill and we once again request the Government to consider tourists hotels also in the industry category and provide a rebate on the electricity bill," he said.

President Sri Lanka Association of Inbound Tour Operators, Dirk Grigson said that the deferring the US 10 fee would have a far reaching impact on the industry.