The Ministry of Economic Affairs (MoEA) has drafted a Memorandum of Understanding (MoU) for the sale of fuel from India to Bhutan that primarily aims to change the current set up and reduce fuel prices in the process. The aim is to get this MoU signed at the government to …

In yet another instance of duping people over land deals, Phajo Nidup, in mid 2021 had entered into a legal agreement to buy 4 acres of land in Kabesa, Thimphu from local resident, Dawa Zangpo, for Nu 170 million (mn) , but Phajo paid only Nu 800,000 or Nu 0.8 …

The Minister of Economic Affairs (MoEA) Loknath Sharma recently announced in Parliament that the 600 MW Kholongchu Project would no longer happen under the Joint Venture model of 50:50 ownership between Satluj Jal Vidyut Nigam Limited (SJVNL) and Druk Green Power Corporation (DGPC). The final straw that broke the camel’s …

The Royal Monetary Authority (RMA) recently announced the Phase Four Monetary Measures that offers loan deferments between one year to two years and eight types of loan restructuring depending on the risk category. However, in a meeting between the government, Bhutan Chambers of Commerce and Industry (BCCI), heads of Financial …

Though there are several ongoing court cases and even some court verdicts pertaining to around Nu 657 mn in double and triple mortgages with banks and also cheating land buyers in Phuentsholing, Phajo Nidup finally was detained on 13 June 2022 as part of a fraudulent check writing case by …

Yet another victim of Phajo Nidup came forward as part of the multiple Phuentsholing land cases that involve the banks too and around Nu 657 mn in double and triple mortgages. This victim’s case pertains to the 5 acres and 33 decimals in Pekarzhing, Phuentsholing that Phajo fraudulently sold to …

As the Tourism Levy Bill 2022 that increases the Sustainable Development Fee from USD 65 to 200 was passed in the Parliament, a major question that people are still asking about is, why the reform, what is it actually and what will its impact be? The reform is part of …

On 18 June 2022, a 55-year-old woman was killed in a landslide in Kabreytar, Phuentsholing when mud and debris flowed into her bedroom on the ground floor of the building,  killing her. The Bhutanese has learnt that the land was originally an Environmental 4 Zone land precinct that only allows …

The Heads of the Association of Bhutanese Tour Operators (ABTO), Hotel and Restaurant Association of Bhutan (HRAB) and Guide Association of Bhutan (GAB), though all surprised with the transformation exercise in the tourism sector, welcomed the overall reforms. At the same time, they had suggestions to ensure it is a …

The biggest source of worry in the 2022-23 budget report is the biggest ever fiscal deficit of Nu 22.882 billion (bn) at 11.25 percent of GDP. To add to this there was another record fiscal deficit in the 2021-2022 budget of 17.498 bn. With most of the above fiscal deficits …