CKTI seeks CM’s intervention to help sector
The Confederation of Kerala Tourism Industry (CKTI) has requested the chief minister to urgently advise banks to extend the moratorium on repayment of loans and interest, pertaining to tourism entrepreneurs.
In a letter to chief minister Pinarayi Vijayan, CKTI president EM Najeeb said the moratorium should be extended at least for another year.
The stakeholders in the tourism industry have invested huge amounts by mostly borrowing from banks and other financial institutions. The present setback in the tourism industry has affected the stakeholders drastically.
The tourism sector in Kerala has been one of the most productive segments contributing largely to the economy of the state.
“The COVID-19 epidemic gripping the world has affected the industry alarmingly. There is no tourist inflow due to fear among the tourists, policies of countries and non-operation of flights by airlines. The tourism sector is almost at a standstill,” Najeeb said in the letter.
“Your urgent intervention and supportive action are requested to extend relief to the tourism industry in the state,” he added, in the letter to the CM.