There is much excitement in the air as Bhutan gears up to celebrate the biggest event of the year, the 112th National Day. His Majesty The King will address the nation from the Changlimithang Stadium, Thimphu this year. People from all walks of life are eager to hear the Royal …
Read More »Animal attack as probable cause of death of Dena
Chief Forest Officer, Gyeltshen Drukpa, said the fang marks on the neck of the deceased 9-year-old girl, Dena Koirala, a class 2 student in Dechencholing Higher secondary school, could confirm it to be the cause of her death. However, it is yet to ascertained which wild animal had exactly inflicted …
Read More »GDP growth rate crashes to second lowest rate ever at 3.03% in 2018
The National Statistics Bureau (NSB) has finally released the much delayed Gross Domestic Product (GDP) growth rate for 2018 and it shows that the economy had its second worst year ever on record with GDP touching 3.03 percent. The last time Bhutan’s economy had such poor numbers was after the …
Read More »RICBL in a deep hole with record high NPL, 1.4 bn loss and downgraded credit ratings
The company is in the midst of root and stem reforms to deal with the fall out RICBL is Bhutan’s largest insurance company and handles all life insurance and most vehicle, equipment, projects, building and other insurance The country’s biggest and oldest insurance company is in unchartered waters as it …
Read More »21 private schools offer to surrender their schools to the govt if all cut off students are taken in by govt schools
Schools say the future of 1,500 school staff and 11,000 students enrolled in 36 private schools are at stake With the government’s move to absorb all the students who are not qualified for class XI in the government schools, which would have otherwise enrolled in private schools, many owners of …
Read More »DRC’s digital tax net aims to capture all taxable income and assets for taxation purposes
The DNT government in its 2018 manifesto says it will recover Nu 10 bn by strengthening the tax collection system and avoiding tax evasion. This has become all the more imperative as the government faces a Nu 40 bn deficit in the 12th plan to meet its many pledges, some …
Read More »Bhutan and India looking for a middle path on Sunkosh project: FM
One of the main agendas of the Foreign Minister, Lyonpo Tandi Dorji during his recent trip to India was to try and find a solution to untangling the 2560 MW Sunkosh project which is currently stuck due differences between the two countries on the implementation modality. Bhutan wants to implement …
Read More »15 to 50% Performance Incentive for SOEs to be calculated based on Compact with MoF
Revised pay for SOEs to be implemented from 1st December A major feature of the State Owned Enterprises (SOEs) pay hike is a Performances Based Variable Incentive (PBVI) allowance to encourage better performance by SOE companies. The PBVI for companies range from 15 percent for underperformance, 25 percent for good …
Read More »Govt withholds payment to BHEL over Commission issue
The ACC investigation of the BHEL case, while not finding any criminal culpability, said that the appointment of the local agent Bhutan Ventures Trading (BVT) by BHEL for a commission fee cost an additional financial burden of Nu 197.897 mn to the country in buying equipment from BHEL for the …
Read More »Govt achieves balancing act on Regional Tourism Policy with Hotels and GoI
The government in a story reported by The Bhutanese in 26th October 2019 announced the Draft Regional Tourism Policy and Draft Regional Tourism Management Guidelines to better regulate and manage the growing number and impact of mass regional tourism. Since then, the government has had to do a delicate internal …
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The Bhutanese Leading the way.