Govt. to introduce new program to protect tourism, banking sectors

Saturday, 17 December 2022 00:30 - - {{hitsCtrl.values.hits}}

President calls for both industries to work collectively

President yesterday said the Government will introduce a new program to protect both tourism and the banking sectors, whilst highlighting the need to work collectively.

He also emphasised the need to maintain the banking sector in the country without letting it collapse while developing the tourism sector.

“If the banking system collapses, tourists will not come to our country. Therefore, the Government has a program to protect both the tourism and banking sectors. As we would implement it, I request you all support it,” he made these remarks during a discussion with the Ella Businessmen Association.

Subsequent to the Easter Sunday terror attacks in April 2019, initially a financial moratorium servicing of borrowed capital and related financial cost was arranged for six months from July to December 2019. Thereafter, due to the COVID pandemic, the financial moratorium was extended on three occasions till 30 June.

Thereafter, the leading industry associations urged for the extension of the Rs. 500 billion debt moratorium by additional six months till 31 December, noting it was critical for the 3 million-dependent industry and to tap prospects for more forex-boosting visitors in the upcoming winter season.