Hoteliers see dollars, DMCs cash on rupees By Sunimalee Dias View(s): View(s):Sri Lanka’s tour operators have been hit by the new budget proposal mooted by hoteliers to carry out transactions in US dollars causing dissent among the Destination Management Companies (DMCs). Nkar Travels Managing Director Nilmin Nanayakkara said that this request for a dollar transaction was made by only a few hoteliers who are interested in lobbying the Finance Ministry to get their payments in dollars from the DMCs. “Not giving the correct picture to the Finance Ministry when lobbying prior to the budget is disastrous and in my view this is misleading the Finance Ministry if they did so,” he stated. He explained that it was those hoteliers that had obtained dollar loans who had been involved in lobbying the Finance Ministry to make payment in dollars mandatory which is what we are against. Paying back the dollar loans that hoteliers have obtained is the need of the hour of most hoteliers and these hoteliers believe would ensure that the hard currency comes into the country.

Source: Sunday Times March 30, 2019 19:07 UTC