Since one of the fundamental presumption in the policy is that any shareholding above 10 per cent would have to satisfy the regulator of the fit and proper status and sound governance principles on a continuing basis, it is necessary that the same principles are applicable to existing owners but done so in a non-disruptive and consultative fashion.
This year, the overall balance of payments is forecast to record a deficit. The tourism sector is a major supplier of foreign exchange. The foreign exchange loss from this industry alone has been estimated at around Rs12 billion for April and May 2020. Last year, tourism receipts amounted to Rs63 billion.