Even after the situation nomalises post COVID19 an the businesses in the tourism sector begin are allowed to open, it would be a difficult task as there would be a need for a massive bailout, feels businessman Ricardo Joseph D’Souza.
Speaking to goemkarponn.com, Ricardo said that while COVID is here to stay, until a new vaccine arrives, people will have to leave with it and start life all over again.“Even if government allows all tourism sector or other businesses to open, Goa will need a massive bailout. Our government needs to realise this,” said Ricardo, who owns several businesses including the Tito’s-Mambos night club.
Ricardo said that firms will not have enough money to open up nor service their loans once the loan waiver moratorium ends.
“You should ask if our Government has made contingency plans for this. Any engine cannot just be restated without servicing, oiling etc. Emergency funds need to be kept on standby for use by the private sector as well as public sector. Have they even set up a mechanism to plan this?” he asked.
Since March 22, the tourism sector has shut down and even though government has allowed hotels to open, there are not many takers due to financial constraints and low demand.
As such for last five months now, clubs, discos, hotels, bars, taxis and all tourism related business are shut.