Himachal's Hospitality in Crisis: Urgent Plea to PM Modi

The Federation of Himachal Hotels and Restaurant Association has made an urgent plea to Prime Minister Narendra Modi, seeking government intervention to support the state's faltering tourism and hospitality sector. The association is calling for strict enforcement of restructuring frameworks by the RBI and MSME, halting SARFAESI actions, and ensuring sustainable recovery strategies.

Amidst the ongoing monsoon havoc, the hospitality industry faces severe financial distress, with interest subvention and a nine-month moratorium on payments seen as critical lifelines. The association cited devastating monsoon impacts, including cloudbursts, flash floods, and landslides, which inflicted over Rs 10,000 crore in damages and led to the closure of many businesses.

Appealing for long-term loan solutions and reversing punitive financial practices, the federation emphasizes the urgent need for policy support. The tourism-dependent economy, involving various stakeholders like hoteliers and transporters, is under threat, demanding immediate action to prevent further collapse.

(With inputs from agencies.)