KUALA LUMPUR: The Malaysian Association of Tour and Travel Agents (MATTA) is calling on the government to extend the loan moratorium for the tourism sector for another six months.
MATTA’s appeal is based on recognition of the sector, among others, which provides jobs and is an important contributor to the country’s economy.
Moreover, the tour and travel industry is the hardest hit by the Covid19 outbreak.
Studies indicate that it will take a longer time than other sectors to recover from the current crisis.
“Against a backdrop of recession and unemployment, being wholly dependent on domestic tourism will not be sufficient to sustain related businesses and individuals working in this industry,” said MATTA president Datuk Tan Kok Liang.
The industry’s inability to service its loans is due to regulatory constraints and weak demand. With a large portion of earnings derived from international tourists and our borders remaining closed, help is crucial.
“With no firm direction from the government on the easing of borders, it is only appropriate to request that it initiate an extension of the moratorium, rather than industry players individually seeking extensions with their respective banks, which would likely be turned down.” – Bernama