Representatives of int'l chain hotels urge govt to bring amendments in FITA

Published On: February 2, 2024 10:00 AM NPT By: Republica | @RepublicaNepal

KATHMANDU, Feb 2: Representatives of international chain hotels operating in Nepal have demanded immediate amendments to the Foreign Investment and Technology Transfer Act (FITA).

The representative of the chain hotel met Finance Minister Dr Prakash Saran Mahat on Thursday and demanded immediate revision of the FITA as some of its provisions had made them face unnecessary hassles. They argued that international chain hotels are leaving Nepal due to the new arrangements regarding royalties in FITA.

Representatives of international chain hotels went to the Ministry of Finance under the leadership of Desh Bandhu Basnet, Chairman of Federation of Nepalese Chambers of Commerce & Industry (FNCCI)'s Tourism and Aviation Committee to meet Minister Mahat. Anirudh Kumar, Juhi Roy, Nikhil Sharma, Amit Nagpal, Javed Ali and Ajay K were among the representatives of the chain hotels holding the meeting with Finance Minister Dr Mahat.

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