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 …

P-1 Civil Works Consultant CWC does not agree and feels right bank can be strengthened The 1,200 MW Punatsangchu I project is not just faced with a geological challenge on its right bank, but now two expert Indian agencies, the Central Water Commission (CWC), which is the project’s civil engineering …

A reliable source says pressure was put to ‘go easy’ on these claims. The P-1 MD refuted such pressures were put Nu 3.9 bn claim by L&T is again being ‘reviewed’ by PHPA despite the senior PHPA dispute committee headed by Director Finance ruling against it in a report Nu …

On 8th May the Health Minister Dechen Wangmo in a press conference said that the Jomotsangkha case had tested positive six times for Immunoglobulin M (IgM) antibodies on the Rapid Test Kit (RDT) which either means an early infection or an early path to recovery. She at the time explained …