An update on BOIC

After the concern and doubts expressed by the National Council on the establishment of the Business Opportunity and Information Centre (BOIC) during the Question Hour session with the Prime Minister in National Council, the same concern was raised in the National Assembly to the Economic Affairs Minister.

The Member of Parliament of Gangzur-Minjey, Lhuentse, Karma Rangdol, requested the Economic Affairs Minister, Norbu Wangchuk, for an update on the legality issues, salary of the heads and the recruitments of the staff of BOIC during the Question Hour session of NA.

The legality of BOIC has become an issue as evident from the panel discussion by the political parties on national forums and the Prime Minister’s visit to the National Council.

The Economic Affairs Minister said that the establishment of BOIC has lead to serious discussions among political parties and in National Council regarding the legality of its establishment.

Lyonpo said that BOIC has been established with a fund of Nu 1.9 bn to help the rural people in setting up about 4,000 small business firms, and 1,500 micro and macro business firms across the country.

On the legality front, the Economic Affairs Minister said that the establishment of BOIC is not in breach with any existing laws, like Public Finance Act, Civil Service Act and the Constitution. Therefore, he said it didn’t violate any laws.

Lyonpo added that the past government has also established numerous such organizations for the people’s welfare, such as the establishment of Agency for the Promotion of Indigenous Craft (APIC) in 2010, and that the establishment of BOIC also happened following the same procedures.

“Establishment of APIC and BOIC has followed the same procedures, especially when it pertains to the law,” Lyonpo said. He also added that APIC, at the initial stage, also functioned as a time bound autonomous agency in the Ministry of Economic Affairs like what the BOIC is starting off at present.

Lyonpo further said that establishment of BOIC is solely in the interests of the rural people so that it can boost their income and also to enhance country’s economy.

In response to the hefty salary for the Chief Executive Officer,BOIC, Lyonpo said that the pay allotment of the CEO was decided considering specialization and the nature of the work. Meanwhile, Lyonpo said that BOIC is being established to revive the poor state of the country’s economy and help the rural people.

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