Most internet connections had snapped without this gateway during Cyclone Amphan Following the destruction cased by Cyclone Amphan in Kolkata, Bhutan saw its largest Internet Service Provider (ISP) Bhutan Telecom crash out on 21st May evening with no internet lines until the next day on 22nd May. The second largest …

Sector specific issues remain due to the larger COVID-19 impact The Private Sector COVID-19 Task Force since April has been meeting various business associations and business representatives in the Dzongkhags and the outlook was grim. Though every association and business came up with a host of issues unique to their …

A senior government official said that there is misunderstanding on the National Assembly not accepting the National Council recommendation to continue allocating mines (new mines and those mines whose leases expires) to SMCL till the process of amending the mines and minerals management Act is completed. He said, “The suggested …

Losses are Nu 199 mn from Mangdechu and Nu 188 mn from Chukha Meanwhile Mangdechu unit repaired by an all Bhutanese team after 24 days Bhutan’s rivers have been in full flow from the second week of June with the monsoon arriving early in addition to earlier rains, and all …

The much delayed 600 MW Kholongchu project will finally take off after the Concession Agreement was signed on 29th June between the Ministry of Economic Affairs (MoEA) representing the Royal Government of Bhutan and the Kholongchu Hydro Energy Limited (KHEL). The event saw virtual attendance of the Indian side with …

FIAB submits its recommendation on loan deferment to RMA RMA thinking more on the lines of around six months’ deferment but no final decision yet Thursday afternoon saw an important meeting on the issue of loan deferments organized by the Royal Monetary Authority (RMA) between the Financial Institution Association of …

The most important paragraph of the 1st June letter from the Prime Minister to the Ministry of Economic Affairs (MoEA) on cancelling the Chunaikhola mine auction was the second last one where the PM said, ‘Given these unavoidable health and economic dynamics (COVID-19), the likelihood of auctioning the mines as …

But not for interest waiver As the three-month loan deferment is coming to an end by June 2020, Bhutan’s Financial Institutions largely favour extending the Equated Monthly Installment (EMI) deferment by another three months at least, given the current bleak economic situation due to COVID-19. The Financial Institutions Association of …

Most Druk Holding Investment (DHI) Companies will take a revenue and profitability hit for 2020 due to COVID-19 which will affect the government coffers in the form of dividends and Corporate Income Tax. The only exceptions will be Druk Green Power Corporation (DGPC) where hydrology will play a role and …

Both sides aim to sign the Concessional Agreement soon after which major works can happen A senior Bhutanese official said that a breakthrough in the 600 MW Kholongchu project has happened and the Concessional Agreement may be signed as early as this month so that the major works on the …