Tourism and Hospitality sector of HP Thanks state government for relief announced
Hotelier as well as transportation sector will get 50% interest subvention on the working capital loan for initial two years
Dharamshala: All Himachal Association of Hospitality and Tourism & Hotel and restaurant Association Dharamshala thanked the Government of Himachal Pradesh for its approval to the interest subvention scheme, where the hotelier as well as transportation sector will get 50% interest subvention on the working capital loan for initial two years. Ashwani Bamba, President, Hotel and restaurant Association Dharamshala and State spokesperson, All Himachal Association of Hospitality and Tourism while talking in Dharamshala said that the people attached to the Tourism Industry in the state were demanding since long time from the government to financially help this sector, so that it could cope up to meet the sufferings it had due to Corona pandemic. He said that the industry is totally shut for the past three months and its associates are finding it difficult to pay even the fixed expenses.
The Himachal Pradesh government has approved an interest subvention scheme on loan to revive the tourism industry. The Cabinet decision of Thursday said that Under the Interest Subvention Scheme, tourism units paying GST up to Rs 1 crore will be entitled for maximum loan of Rs 50 lakh and those paying GST between Rs 1 crore and Rs 3 crore for at least one year ending 31st March, 2020 will be entitled for loan up to Rs 75 lakh, he added. Units paying GST above Rs 3 crore will be eligible for loan of Rs 1 crore and small registered tourism units will also be eligible for a maximum loan of Rs 15 lakh, he added.
Bamba said, “We have been representing to the Government of Himachal Pradesh that due to Corona Pandemic all Hotels and Tourism establishments are closed and no revenue is being generated. Hoteliers were finding it difficult to pay for the fixed expenses like electricity/ water, insurance, AMCs, taxes, staff and bank interest payments. We had requested for a working capital from the state cooperative banks at a subsidised rates of interest, so we could pay our fixed expenses.”
He added that the Govt of Himachal Pradesh has accepted the request of our Association. “We are thankful to the Govt. of HP for this big relief to the hotelier in this difficult time”, said Bamba.