Home Features Lock down triggers loss of 41 billion in tourism and aviation sector
July 3, 2020

Lock down triggers loss of 41 billion in tourism and aviation sector

Kathmandu: The nation wide lock down following Coronavirus pandemic for more than 100 days has triggered a total loss of 41 billion in tourism and aviation sector until July 22.

Minister for Culture, Tourism and Civil Aviation Yogesth Bhattarai during a press briefing in Kathmandu disclosed the facts a figures about the financial loss incurred in the tourism and aviation sector due to Covid-19 and lock down.

The Covid-19 outbreak and suspension of domestic and international flights world wide had hard hit the tourism and aviation sector that brought the tourism and aviation to a grinding halt for the last more than three months.

Nepal Tourism Board (NTB) and Civil Aviation Authority of Nepal (CAAN) officials indicated that there is  an average loss of Rs 10 billion on every month and it is more likely to increase by the end of the July by Rs 7 billion.

The Minister Bhattarai said the report has been submitted to  the National Planning Commission to study the loss. The government has set up a Rs 50 billion fund for the COVID-19 affected tourism industry.

The Minister further added that a total of Rs 200 million has been allocated for the upcoming fiscal year 2020/21 to step up measures towards the rehabilitation program and for the sustainable tourism development.

The Minister also hinted that the time limit for filing VAT for hotels has been extended from two months to four months ad a facility of  75 percent discount on aircraft parking fee and 50 percent discount on acquiring license and license renewal fee to the government has been recommended for the benefit of the aviation and hotels.

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