CB Chief confident economic crisis will ease by January
• Tourism Minister Prasanna Ranatunga requests CB Chief to extend concessions granted to tourism sector
• CB
Governor says Rs. 4,100 b disbursed as loans, interest rates on loans reduced
by Rs. 330 b
• First 21
days of November attracts 29,000 tourists; Minister confident of around 180,000
tourists by year end
The Central Bank Governor Ajith Nivard Cabraal yesterday
expressed confidence that the economic crisis would ease by January.
“All sectors in the country are currently under pressure due
to the economic crisis caused by the COVID-19 pandemic. With the world now
coming to terms with the new normal, the pressure will be at its maximum until
next January, after which it will gradually subside,” Cabraal said at a special
discussion held at the Central Bank auditorium.
The special meeting was held on the request of the Tourism
Minister Prasanna Ranatunga to discuss the problems faced by those engaged in
the tourism sector. The issues pertaining to tours, civil aviation, airports
and airlines, and the national carrier SriLankan Airlines which are under
the Ministry of Tourism, were discussed at length.
The Tourism Minister requested the Central Bank Governor to
extend the concessions granted to those engaged in the tourism sector until the
industry recovers. The Minister also pointed out that requests had been made to
restructure the loans obtained by those engaged in the tourism sector.
In response, Governor Cabraal said that attention had been
paid in this regard. He said that creditors could request the relevant banks,
and if necessary, the Central Bank would recommend.
Ranatunga also said that leasing companies continued to
seize vehicles of those engaged in the tourism industry. In addition, there
have been reports of leasing companies collecting more money in instalments
when granting lease concessions, the Minister lamented.
In response, the Governor assured that the leasing companies
have been directed to stop the seizing of vehicles. Cabraal emphasised that it
was not permissible to include additional premium when granting lease
concessions and requested the Sri Lanka Tourism Development Authority (SLTDA)
to inform the Central Bank immediately if there were any incidents of leasing
companies acquiring vehicles and collecting extra money. He also stressed that
action would be taken against the leasing companies involved in such incidents.
The Central Bank Governor also pointed out that Rs. 4,100
billion had been provided as loan relief in the recent past and that the
interest on loans had been reduced by Rs. 330 billion.
Minister Ranatunga said that 29,000 tourists had arrived in
the country from 1-21 November and that he expected around 150,000 and 180,000
tourists would arrive in the country by the end of this year.
Tourism Ministry Secretary S. Hettiarachchi, Aviation State
Ministry Secretary Madhava Devasurendra, SLTDA Director General Dhammika
Wijayasingha, Civil Aviation Authority Chairman Upul Dharmadasa, Airport and
Aviation Services (Lanka) Ltd. Vice Chairman Rajiv Sooriyarachchi, Deputy
Governor Yvette Fernando and many other officials from the Central Bank were
present at the discussion.
No comments