Tag Archives: JK Mohanty

JK Mohanty writes to PM Modi for stopgap measures to battle cash crunch

In his letter to the PM, JK Mohanty, Chairman, IATO – Eastern Region and Co-Chairman, FICCI – National Tourism Committee, has suggested measures to battle the financial crunch, including extension of moratorium for a year with minimal interest rate, one-time rescheduling of principal and interest dues of borrowers in hospitality in line with revised estimated cash flows of each project, among others.

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Nothing for hotel and tourism fraternity

JK Mohanty, CMD, Swosti Group, shared, “We are very disappointed with the Central Government’s budget, as nothing has been given to the hotel industry or the tourism fraternity, which employs almost 10% of the workforce and also to those living in the interiors of India, where no other industry can go and survive. Many hotels, restaurants and tour operators, have closed offices for good, and still nothing has been given to them.”

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State Govt need to give incentives to attract investments in Odisha

Claiming that the hospitality and tourism industry has taken a hard hit during the COVID-19 crisis, JK Mohanty, CMD, Swosti Group; Chairman, HRAO and Hony. Secretary, HAI, has said that state government needs to play a greater role in attracting investments from the private sector by providing attractive incentives for a period of at least 3 – 5 years to make Odisha an attractive destination competing with other neighbouring states like Kerala, Maharashtra, Tamil Nadu, Rajasthan Uttar Pradesh, Goa, Gujarat, Andhra Pradesh, etc. “Around five thousand additional number of hotel rooms in different star category should be set up to compete with the hotel infrastructure of the other states of India. We, therefore recommend that the Government should allow 30% capital investment subsidy up to a maximum limit of Rs.25 crores and 5% interest subsidy up to 11 years on repayment of term loans. If the subsidy is given only for 3 years, many hotels will come up as required,” he added.

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Odisha hotel industry appeals RBI to extend moratorium period

On behalf of the hotel industry of Odisha, J K Mohanty, MHCIMA, Chairman – Hotel & Restaurant Association of Odisha & IATO Eastern Region, has written a letter to Reserve Bank of India, to extend the moratorium period up to March 2021 and exempt hoteliers from payment of interest during this period as it is not possible to pay interest without earning. He also expressed his gratitude to RBI for announcing immediate action to avoid the crisis by allowing relief on loan moratorium on interest and principal repayment for a period three months and later extended to six months.

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HRAO appeals Tourism Minister for long term benefit of Odisha tourism industry

Hotel & Restaurant Association of Odisha (HRAO), has appealed Prahlad Singh Patel, Minister of State (I/C), Tourism & Culture, to think of a long-term benefit for the tourism industry of Odisha. In a letter addressed to the Minister, JK Mohanty, Chairman, HRAO & IATO Eastern Region, has written, “On behalf of HRAO, we regret to inform that hotel industry of Odisha has not yet received any relief either from the Centre or from the State Government in spite of our continuous appeals explaining the miserable situation faced by the tourism industry. The hotel industry is bleeding profusely and reasons are very well known to your honour through our various correspondences and memorandums presented through our national chapters of HAI, FAITH, FHRAI, FICCI, CII, ICC, ASSOCHAM, PHD Chamber of Commerce, etc. In view of this, we appeal before you to think of a long term benefit that the tourism industry can contribute to the country in terms of employment, both Indian and foreign exchange earnings, image building of the country, and providing service to guests both Indian and foreigners. The Hotel industry as per Swami Vivekananda’s wording ‘Provide Service to mankind is service to God’. Both Union Govt. and the State Govt. must realize the benefit which the Govt. get than the relief which the industry is seeking for its survival.”

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