PM reassures fast-tracked financial support for tourism revival

• Industry leaders hold discussions for over an hour with PM a day after meeting President
• Specific measures of financial support to be ironed out with State Finance Minister Eran Wickramaratne on Friday
• Central Bank working on modalities for banking sector support
• Duty-free import of security equipment for hotels in the offing

By Charumini de Silva

Prime Minister Ranil Wickremesinghe yesterday reassured the tourism industry of fast-tracked financial support for speedy revival following the Easter Sunday terror attacks.

The assurance was given when the industry leaders met the Prime Minister for discussions that spanned over an hour.  Yesterday›s meeting with the Premier followed a discussion with President Maithripala Sirisena on Monday by the tourism industry, which has been a direct victim of the 21 April terror attacks in the country, which killed over 250 (including nearly 50 tourists), injured hundreds and damaged three five-star hotels.

Given the drastic drop in tourist arrivals and the cancellation of future bookings, the hotel industry is seeking a moratorium on capital and interest repayment of loans taken, as well as working capital at concessionary rates among other requirements.

At yesterday›s meeting, Prime Minister Wickremesinghe emphasised that financial support will be expedited. Accordingly, a team from the tourism industry will have a focused discussion on specific financial support with State Finance Minister Eran Wickramaratne on Friday. The support extended is likely to include relief for hotel employees with regard to their personal loans.

The Prime Minister also agreed in principle to allow duty-free import of latest security equipment for hotels, and specific details on this is too will be discussed with the State Finance Minister on Friday.

Central Bank Governor Dr. Indrajit Coomaraswamy, who was present at the discussion yesterday, had assured that the Central Bank is also working on specific modalities for banking sector support for the tourism industry.

The meeting with Prime Minister also discussed urgent issues with regard to strengthening security and aggressive destination marketing.

Tourism Development Minister John Amaratunga, Transport and Civil Aviation Minister Arjuna Ranatunga, State Finance Minister Eran Wickramaratne, and Economic Reforms and Public Distribution Non-Cabinet Minister Dr. Harsha De Silva, along with tourism industry stakeholders, participated at the meeting held at Temple Trees yesterday.