The Bhutanese Leading the way.
The price of eggs has shot up for the third time in this month alone. The sharp increase in the price is due to the recent high mortality case of poultry in Tsirang commercial farms and the hike in fuel price. Last week, a tray of eggs was sold at …
Read More »MoEA report lists steps to fight price rise and inflation
A new report by the Office of Consumer Protection under the Ministry of Economic Affairs which was drafted on the direction of the MoEA Minister Lyonpo Norbu Wangchuk highlights various recommendations to fight inflation. The report is titled ‘Report on Price Increases and Inflation,’ and was made in collaboration with …
Read More »RMA to open up Housing, Vehicle and Consumer Loans by mid August
Banks are happy about the move but want the RMA to increase the cap on housing loans After floating the draft guidelines on Housing, Vehicle and Consumer loans last week, the Royal Monetary Authority (RMA) has now announced that it would allow banks to reopen Housing, Vehicle and Consumer loans …
Read More »Now get ready to pay 5% more on your mobile, internet and landline bills
While most of the focus has been on taxes being levied on vehicles and fuel most people are still unaware of the impending five percent tax on their telecommunication services imposed by the government’s Tax Bill. Though this is yet to come into effect, telecommunication service providers like Bhutan Telecom …
Read More »Govt Task Force to fight inflation gets cracking
Claims that 5 percent hike in fuel prices should not lead to rise in prices The government’s Task Force to fight inflation had its first meeting on Thursday chaired by the Minister for Economic Affairs Lyonpo Norbu Wangchuk. The terms of reference of the multi sectoral committee (see box) is …
Read More »RMA shares draft guidelines to open up home loans, car loans and consumer loans
The draft guidelines have been put up on the RMA website for public feedback In what will be welcome news for those eagerly waiting to build or buy their homes the RMA has floated some draft guidelines on its website that allow Financial Institutions (FIs) to give housing loans with …
Read More »Govt decides to lift freeze on vehicle quotas
The Pay Commission report and the Pay Revision report proposals to monetize the quota at Nu 160,000 have been dropped by the govt In what will be music to the ears of more than 3,000 eligible civil servants, the government has decided to lift the vehicle quota freeze imposed in …
Read More »Bhutan to get Nu 47 bn for hydropower and Nu 13 bn for 11th plan from India’s 2014-2015 Budget
The goodwill generated during Prime Minister Narendra Modi’s visit and the traditional ties of friendship between Bhutan and India has not been restricted to only kind words about each other. This April 2014 to 2015 March annual budget of India has allotted a substantial amount to Bhutan’s 11th plan priorities …
Read More »Govt revamping FDI and EDP to make them more pragmatic and kick start the economy
The PDP government is in the process of studying and making some changes to the existing, Economic Development Policy (EDP) 2010 and the Foreign Direct Investment Policy (FDI) 2010 to promote economic activities and make Bhutan more investment friendly. Minister for Ministry of Economic Affairs (MoEA) Lyonpo Norbu Wangchuk said, …
Read More »Each Minister given one indicator to push Bhutan to the top 100 position in the global ‘Doing Business Indicators’
A high powered Better Business Council is also being finalized and it will include members from the private sector After coming into power, one of the big economic promises of the government was to improve Bhutan’s dismal 141st ranking in 2014 on the World Bank’s Ease of Doing Business ranking …
Read More »