Today is the last day for the two political parties to clear any outstanding debts with financial institutions or private companies. The deadline set by the Election Commission of Bhutan is today.
The People’s Democratic Party (PDP) has failed the deadline.
The Opposition Leader, Tshering Tobgay confirmed “It’s unlikely that we can pay off our dues on the deadline”.
“We have requested the ECB to grant us an extension on their deadline to clear our liabilities. They have accepted our appeal,” said Tshering Tobgay.
The party hopes to clear all their loans soon as many of the registered members who committed to make voluntary contributions, could not make timely payments due to the closing of the financial year.
He said the the party expects to fulfill the obligations very soon.
The total liabilities amount to about Nu 22 million and the party has cleared a major portion of that.
As per the Election law, political parties can raise income from three sources only: registration fees; annual membership fees; and voluntary contributions from registered members.
“We cannot accept any contributions outside the three means” said the OL Tshering Tobgay
The party has written to the media houses to which they owe money to consider giving some reduction.
“Some have written back saying that they are not able to consider our requests for a discount on our earlier purchases. However, a couple has not written back, and I’m hopeful that they will be able to offer generous discounts,” said OL Tshering Tobgay.