The Bhutanese Leading the way.
The Priority Sector Lending (PSL) policy at first glance may seem like a Central Bank initiative to boost lending to Cottage and Small Industries and the agricultural sector, which by itself is commendable, but close up it is so much more.
The PLS in engaging and working together with the government and an array of agencies is inspired by a common vision of His Majesty The King to provide capital, land and support to our youth and entrepreneurs, and in doing so strengthen our economy, revitalize our rural areas and provide gainful employment to the youth.
To achieve PLS, another important vision of His Majesty has to be realized of various government agencies working together in good cooperation and harmony for the greater good instead of in silos or a series of turfs.
In that sense the real good in the PSL is not only the ready financial and land capital for those who otherwise cannot afford either, but a golden opportunity for our various agencies and bodies to come together to not only cut the red tape, but provide a supportive environment.
While having big business in a developing country is important it is more important to have a strong and large cottage and small industries and a vibrant rural sector that in turn will provide a strong middle class, jobs and reduce the growing gap between the rich and the poor.
The PSL is an opportunity to unleash the entrepreneurial creativity and ability of our youth, and also unlock the rural potential of Bhutan.
Most importantly, the PSL is a golden opportunity to undergo a huge and revolutionary positive mindset change towards doing business, not only for government officials and agencies, but the entire Bhutanese society and youth.
Build your own dreams or someone else will hire you to build theirs.
Farrah Gray