International airlines move flayed

BY A STAFF REPORTER

Kathmandu, Oct. 5: Nepal Freight Forwarders Association (NEFFA) and Nepal Association of Travel Agents (NATA) have opposed an unexpected and sudden decision of the international airlines to increase the amounts of the bank guarantee.

The international airlines take the bank guarantee amounts under airway bill stock and ticket stock from freight forwarders and travel agents respectively.

At a joint meeting held here today, the two associations asked the airlines to withdraw the decision regarding the rise of bank guarantee amounts soon. Recently, airlines increased the bank guarantee amounts for cargo agents from Rs. 1.2 million to Rs. 2 million and for the travel agents from Rs. 1 million to Rs. 2 million.

In a press release issued by NEFFA, the increase in the bank guarantee amounts has badly affected the freight forwarding business.

"At a time when the country’s foreign trade is facing slackness, the sudden rise of the bank guarantee amounts will be an additional setback for the trade," reads the press release.

Meanwhile, NEFFA hosted a reception in honour of the new executive body of NATA. At the reception, both the associations expressed their firm commitment to work together.

Speaking on the occasion, President of NEFFA Rabindra Man Singh emphasized the need for his association and NATA to give a boost to both the tourism industry as well as foreign trade.

Likewise, Joy Dewan, President of NATA, said that the two associations have to move ahead hand in hand for the promotion of tourism and foreign trade.

On the occasion, Bhola Bikram Thapa, immediate Past President of NATA, also spoke about the necessity of joint efforts for revitalizing the tourism industry and increasing the foreign trade of Nepal.

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