NTAC expert member calls for moratorium on tourism sector loans
KOCHI:The banking sector should declare a moratorium on the tourism sector loans in view of the deep crisis faced by the stakeholders due to the devastating floods that hit Kerala, said Abraham George, an expert member of the National Tourism Advisory Council (NTAC).
George also urged the banks to slash the interest rate on loans and extend fresh credit to the sector on a war footing to repair resorts, hotels and allied projects which suffered severe damage during the floods.
George, who has submitted a memorandum to the Parliamentary Committee on Tourism requesting to declare Kerala a destination for Leave Travel Concession (LTC) for employees for two years, noted that Jammu & Kashmir was declared an LTC destination after floods devastated the tourism sector there and this helped the state overcome the crisis.
Kochi should be developed as India’s cruise hub, he said.