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Tourism Industry Stakeholders Call for SME Exclusivity in Stimulus Package Loans

The government has introduced a stimulus package of MVR 2.5 billion to assist businesses amid the pandemic. Tourism industry experts have raised their concerns about the stimulus package.

A top tourism stakeholder has stated that the working capital loans given under the stimulus package should be exclusive to small and medium enterprises, with resorts given tax breaks instead.

CEO of Reollo Travel and airline Manta Air Mohamed Khaleel has even stated that the government should revisit its decision to include resorts in the stimulus package emergency fund.

He further added that resorts can be given tax breaks, but they should be removed from the stimulus package.

The government has announced that resorts will be eligible for MVR 7.71 million in emergency funds.

The government will also be providing unemployment benefits to those who lost their jobs due to the pandemic. With the declaration of the temporary ban on tourist visas, a lot of workers in the tourism industry lost their jobs.

With the nationwide shutdown in all activities related tourism industry, top stakeholders of the industry call for only tax breaks and the government to prioritize assisting SMEs with the stimulus package.

Full details are available at the link below:

Source URL: Corporate Maldives

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