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Central Bank plans debt-free tourism industry

30 Jun 2021

  • Formal plan to be implemented: CBSL Governor 

  • Six-month relief extension considered: Cabraal 

  • Programmes to bring down tourists: Prasanna  

By Dinitha Rathnayake   Central Bank of Sri Lanka (CBSL) Governor Prof. W.D. Lakshman has said that the Government is working to address the problems faced by those in the tourism industry due to the Covid-19 pandemic, and to implement a formal plan to revive the industry, with the ultimate aim of making tourism a debt-free industry, according to the Ministry of Tourism. This was conveyed by the Governor at a special discussion convened on 29 June to find a solution to these problems. The meeting had been convened by Tourism Minister Prasanna Ranatunga to call the attention of Money and Capital Market and State Enterprise Reforms State Minister Ajith Nivard Cabraal and the CBSL Governor to the problems that have arisen in the provision of Government relief to the tourism industry, which has been devastated due to the Covid-19 pandemic. Prof. Lakshman had stated during the meeting that new programmes would be implemented to keep the tourism industry afloat for a long time, even after the Covid-19 pandemic is brought under control. The tourism industry stakeholders at the meeting stressed that a large number of people in the industry have lost their livelihoods due to the impact of Covid-19, and blamed the Government for not providing appropriate relief. Responding to these allegations, Cabraal stated that attention has been paid to extend the relief provided during the Covid-19 period. He also stressed that all possible measures will be taken to prevent the collapse of the tourism industry, and that new plans will be formulated to bring the tourism industry back to normalcy within the expected period. According to Cabraal, the Government provided various forms of relief during the last one-and-a-half years for stakeholders in the industry, and is presently considering the request made to extend such relief for another six months. “The Government has spent Rs. 165 billion to control the Covid-19 pandemic, while Rs. 168 billion was provided for the Saubhagya Loan Scheme,” he added, detailing the expenses incurred on relief packages. Ranatunga, attending the meeting, said that protecting the tourism industry required protecting those involved in the industry. He pointed out that although the Government has implemented various programmes for this purpose, many problems have arisen in providing benefits to those who are engaged in the field, adding that the purpose of this discussion was to provide solutions to those problems. He added that the Government hopes to develop the tourism industry even more. ”Due to the success of the Covid-19 vaccination programme, the tourism industry would be able to resume without any hindrance, and the Government hopes to attract tourists to Sri Lanka, obeying the health guidelines.” Accordingly, it was further revealed that a number of programmes are expected to be implemented to attract international tourists to the country as well.


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