KATHMANDU, March 20: Hotel Association of Nepal (HAN), the umbrella organization of hoteliers, has demanded to bring down the interest on loan to a single digit. Due to the high interest rate, it is difficult to operate the hotel business, said HAN officials, demanding that the interest rate of banks and financial institutions should be brought to a single digit.
In a press conference organised on Monday, HAN said that the high interest rate on loans has created more problems when they have run out of business due to the coronavirus pandemic. HAN has also asked for restructuring and rescheduling of loans to the hotel sector.
HAN says that even though some hotels are operating, they are unable to meet their current expenses.