The Bhutanese Leading the way.
The Member from Athang-Thedtsho constituency, Kinley Wangchuk moved the motion to lift the ban on the Bar License in Bhutan seconded by the Member from Chhoekhor-Tang constituency. According to the Member from Athang-Thedtsho, studies show that the restriction of bar license since 2010 has not reduced consumption of alcohol but …
Read More »Karmi Tongchoed for India’s CDS, his wife and 11 armed forces members
His Majesty The King and His Majesty The Fourth Druk Gyalpo offered prayers and Karmi Tongchoed at the Kuenrey of the Tashichhodzong for General Bipin Rawat, the Chief of Defence Staff of the Indian Armed Forces, his wife Mrs. Madhulika Rawat, and 11 armed forces personnel who lost their lives …
Read More »Bank stocks go on a selling spree after RMA discourages dividends for 2021
In a recent meeting between the Royal Monetary Authority (RMA) and board of T-Bank, a board member asked the RMA Governor if Financial Institutions (FIs) can give dividends for 2021. However, the Governor replied in the negative saying this is not the right time to give dividends especially with the …
Read More »Blanket loan deferral likely to end in June 2022
Ever since the start of the pandemic in March 2020, Bhutanese have been the recipient of an extraordinary monetary assistance firstly in the form of the Interest Payment Support Kidu from His Majesty The King, followed by a blanket loan deferral for more than two years from March 2020 to …
Read More »First of its kind Semjong Integrated Water Supply Scheme project launched
Lyonchen Dasho Dr. Lotay Tshering graced the inauguration ceremony of the Semjong Integrated Water Supply Scheme in Tsirang on 26 November 2021. Officials from His Majesty’s Secretariat, MoAF, MoWHS, Armed Forces, De-suung, and DHI joined the Local Government and the people of Dangreygang Chiwog under Semjong Gewog to mark the …
Read More »DPT accuses Govt of policy and political corruption in 12th Plan reprioritization
The Druk Phuensum Tshogpa (DPT) in a press release said it came to learn during the recent reprioritization of the 12th Plan activities, some critical national programs have been dropped, and the Government has diverted disproportionate amount of budget to the Prime Minister’s and Bye-Election Constituencies. The party said further, …
Read More »Remittance rush continues with record breaking Nu 5.139 bn till Aug 2021
In 2020 Bhutan saw the highest ever remittance flow of Nu 8.269 billion (bn). This was higher than the combined remittance of Nu 2.901 bn in 2019 and 3.032 bn in 2020. It was theorized by some that the 2020 remittance may be a one off due to COVID and …
Read More »RAA finds MoF used General Reserve Funds for Finance Minister’s Constituency and Dzongkhag
The 2020-21 Annual Audit Report has found that the Ministry of Finance (MoF) transferred Nu 19 mn from the ‘Local Government Election’ budget under the General Reserve to fund capital works activities in various Gewogs under Paro Dzongkhag during the Financial Year (FY) 2020-21. Of the five Gewogs that got …
Read More »As PDP asks for action over GRF issue Finance minister replies and PDP rebuts again
The People’s Democratic Party (PDP) in a press release said acknowledged the Royal Audit Authority (RAA) for the thorough investigation and its report on the misuse of General Reserve Fund (GRF) by the Finance Minister Namgay Tshering. PDP’s say “We are alarmed that the Finance Minister who is charged with …
Read More »RAA says Nu 123.16 mn in malpractice and abuse by STCBL
Total of 133 mn under Fraud and Corruption in RAA Annual Audit Report The Royal Audit Authority (RAA) in its Annual Report of 2020-2021 said it found Nu 123.16 mn in malpractices and abuse by the STCBL. Of the total 133.066 mn under the fraud and corruption heading the bulk …
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