OPINION

Bhutan’s GNH Center

Bayul Dewaling, Bhutan’s Centre for Gross National Happiness, will be situated on 46 acres at an altitude of 2,835 metres in Bumthang’s sacred Choekhor valley in central Bhutan. The blue pine forested site is bounded by the Chamkar River to the west and south and by mountain slopes to the …

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Studying Bhutan’s Mining Sector

A trend of increasing mineral extraction indicated by increased production statistics, increasing number of leases issued and revenue generated, leave no doubt that the mining and quarrying sector is slowly expanding. This is attributable to (i) growing exports of minerals, and (ii) increasing domestic consumption by industries as raw materials, …

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Could we have saved six months?

The latest development on the Rupee shortage simmered to a scuffle between one House of Parliament and the central bank over how much and how to share information. The Economic Affairs Committee of the National Council (NC) was mandated to carry out a study of the Rupee shortage as a …

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Part 3- The Rupee Crunch: Reconciling theory with reality

Did you ever realize that there are more incentives for consumption than saving and producing in Bhutan? Business conglomerates in the country have concocted their own definition and demarcation of private consumption- the primary contributing factor to the crunch. When government studies have pointed at private consumption and credit expansion …

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Part 2- The Rupee Crunch: Reconciling theory with reality

While there are compelling arguments against opening the capital account to the volatilities of global finance, there are institutional frameworks and regulations that can be crafted and certain appropriate segments of the account that can be liberalized to alleviate such distortions. Another useful approach is the assessment of our commendable …

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Part 1- The Rupee Crunch: Reconciling theory with reality

The recent Rupee crunch has emerged as one of the most significant economic phenomenon of our time. In the midst of all the chaos, competing views have been offered without any attempt to bind these arguments coherently. It seems to me that these disparate views are merely an attempt for …

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Developing agriculture sector with a reduced budget

As the Hon’ble Finance Minister introduced the 2012-2013 Budget in the National Council today, one of the very first things he highlighted was how the rupee problem has ‘offered us opportunities to develop our domestic industries especially the agriculture sector.’ He stated, “In that sector, in spite of heavy investments …

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Measures to protect our Dzongs

The unfortunate June 24 Wangdue Dzong fire could have been easily combated had there been safety measures in place well in advance. For instance, just a few meters of an emergency motor able road around the Dzong could have been a blessing in disguise under such situations. There is no …

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Why I voted against the Education City Bill!

Today the National Council passed the Education City Bill with some important amendments. The Bill will therefore, go for joint sitting in the 10th session of Parliament. I respect the decision of the National Council. After I published my article ‘Education City as an Economic Project’ last week, I took time …

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Trowa Theater

Trowa Theatre in Changjiji sits on government land. The land, measuring 19,432.56 square feet, was leased to a businessman in 2001 to build an entertainment center. In 2006, the government approved the transfer of the lease to another businessman. And increased lease rent from Nu 2 per sft per annum …

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