Changing forex reserve from US Dollars to INR?

Transcription

NATION’S FIRST
FINANCIAL NEWSPAPER
dealing you
january 16, 2016
every saturday vol 7, issue 03, Nu 10
Money
teller
Exchange rates for notes as of
yesterday. A Nu/unit of currency
BUYSELL
Dollar 66.1568.30
Pound 95.4098.00
Euro 72.2574.25
Aus. Dlr45.8047.05
Sing. Dlr45.90 47.20
Gold Price
in India
INTernational
STOCK indexes
Index (Region/Country)
The Global Dow (World)
Dow Jones China 88 (China)
Nikkei 300 (Japan)
Straits Times (Singapore)
S & P BSE Sensex (India)
Thursday, January 14, 2016
High
2179.59
252.95
285.1
2663.51
25018.46
Low
2142.37
242.69
278.26
2642.01
24473.22
Close
2171.61
252.48
283.04
2644.57
24772.97
Chg
4.02
3.73
-7.14
-51.93
-81.14
Friday 15th January 2016
Unit
Ounce
10g 24K
1kg 24K
10g 22K
1kg 22K
Rs (INR)
82,157 26,417 2,641,710
24,700 2,470,000 $ (USD)
1,220.90
392.57
39,257
367.06
36,706
fuel
price
Prices in Thimphu
Product
Diesel
Petrol
Kerosene
Lpg (Home)
Lpg (Com.)
Unit
Liter
Liter Liter
Cylinder
Cylinder
Nu
46.88
59.00
15.00
492.00
1,278.00
Poor voter turnout at Local
Government election
campaigns and forums
Dechen Dolkar
from Thimphu
One of the possible reasons
for the extremely poor
voter turnout in the local
government common
forums could be because
urban dwellers are not
eligible to vote for the
mayor of the city they live
in, despite the decisions
from thrompon and
municipality affecting their
everyday events.
“The Election
Commission was expected
to look at the issue this
time but they cited cost and
other reasons and opted
not to do so. A handful
of eligible voters in urban
areas will definitely result
in a very limited pool of
candidates and more so
the voters,” said a political
analyst.
According to her,
the turnout, in terms of
potential candidates and
voters at the zomdus, is
fewer at this thromde
elections than the first
one. This could also be
attributed to the dwindling
interest among people.
First elections have
always generated more
excitement. Subsequent
elections can never be the
same, she said.
Of the total registered
voters for the upcoming
thromde election for three
thromdes, less than 12%
turned up for the common
forums.
The Phuentsholing
Thromde which has 776
registered voters saw only
96 voters turn up, of which
59 were male and 37
female. Gelephu Thromde
with 1,121 registered voters
saw only 133 voter turnout
comprising 89 males and
44 females. Thimphu
thromde with 7,278
registered voters had only
352 voters participating
with 189 males and 163
females. The common
forums were conducted on
various dates at different
venues from 6 to 14
January.
Phuenstoling Maed
and Changangkha
constituencies saw the
lowest voter turnouts with
five and seven respectively.
For 2011, the local
government elections for
Thimphu, Phuentsholing
and Gelephu Thromde saw
a total of 8,462 registered
voters while the voter
turnout was 4,269
p19
A village woman from Bidung Gewog in Trashigang offers tshogchang to Prime Minister Tshering Tobgay.
Lyonchhen is currently on his eastern Bhutan tour.
CENTRAL BANK NOT IN A HURRY
TO TWEAK MONETARY POLICY TO
CONTROL RISING VEHICLE IMPORTS
The Royal Monetary Authority will however closely observe
and monitor lending in transport sector and would impose
necessary measures only if it finds unusual trends
Dechen Dolkar
from Thimphu
Although Royal Monetary Authority
(RMA) has expressed concerns over the
increasing imports of vehicle, which has
resulted in the outflow of Rs. 3 bn in the
last two years, the central bank does not
intend to introduce any monetary policy
interventions to curb vehicle loans.
The import of vehicles and
corresponding increase in import of fuel
adds pressure to the fast depleting Indian
rupee (INR) reserve. Last year, 8,374
new vehicles were registered with Road
Transport and Safety Authority
(RSTA), of which 4,693 vehicles
p19
were registered in Thimphu
Business
Bhutan
january 16, ‘16
news in a nutshell
p02
Anthropological Research
based in the United States.
The Foundation is dedicated
to the advancement of
anthropology throughout
the world.
Gyalyum
Charitable
Trust
launched
Her Majesty the Gyalyum
Sangay Choden Wangchuck
and Her Royal Highness
Ashi Eeuphelma Choden
Wangchuck launched the
Gyalyum Charitable Trust
at the Textile Museum in
Thimphu on 12 January.
The Trust was registered as
a Civil Society Organization
recently.
Lyonchhen Tshering Tobgay tells the people of Thrimsing that the government is investing a lot in sustaining and continuing free
healthcare services to the Bhutanese citizens
First session
of Bhutan
Children’s
Parliament
ends
The first session of Bhutan’s
Children’s Parliament
concluded on 8 January.
The works and human
settlement minister, Dorji
Choden graced the closing
ceremony. The chief
election commissioner,
election commissioners,
senior officials,
representatives of the UN
and political parties and the
escort teachers from the 20
dzongkhags attended the
ceremony.
BOC to develop
more sports
facilities
Bhutan will get five
more football grounds
in the country by the
end of January 2017.
Artificial turfs will be
installed at Gyelposhing,
Kanglung, Phuenstholing,
Samdrupjongkhar, and
Bumthang. The project
is being funded by the
Government of India.
Five business
ideas from
first startup
weekend
The first startup weekend
organized by QED, a local
think tank, churned up
five business ideas before
concluding on 8 January. A
panel of judges declared the
first two ideas, “Travellers
and Pilgrims” and “Car
renewal reminder” as the
best and relevant agencies
such as Loden Foundation
and the labour ministry is
expected to support the
ideas.
Leopard
killers nabbed
Wangchuck Centennial
National Park (WCNP)
officials nabbed two
men from Tshenkhar in
Lhuentse, who had in
their possession parts of
the common leopard. The
officials acted following a
tip-off. It is believed that the
leopard was killed sometime
in December last year in
Tadhogang, Tsenkhar.
Teacher gets
nine years
for murder of
student
Yebilapts Middle Secondary
School’s assistant principal
has been sentenced to
nine years in prison for
murdering a 14-year old
female student on 16
October. The girl who went
missing after noon that
day was found dead in his
house. The student was
strangulated to death.
JICA donates a
“splicing” van
to Bhutan
Japan International
Cooperation Agency
donated a Nu 4 million
“splicing” van to Bhutan
Telecom on 11 January. This
would help Bhutan Telecom
to fix internet cables that
have been severed by
construction activities faster
and more efficiently. The
van will provide technicians
with an environment that
protects the splicing or rejoining of cables from dust
and rain at the sites.
Bangladesh
and Bhutan
anticorruption
agencies
to work
together
Bangladesh Anti-Corruption
Commission and the AntiCorruption Commission
of Bhutan would work
together in the future.
The former is considering
signing a memorandum
of understanding with its
counterpart in Bhutan.
This is the sixth delegation
that the Anti-Corruption
Commission of Bhutan
has received from its
counterparts since 2010.
RMA counters
disburse INR
8.3M on first
day
The Royal Monetary
Authority disbursed
INR 8.3M on the first
day of its reopening the
Indian Rupee exchange
counters at Thimphu
and Phuenstholing on
12 January. The facility
is primarily for pilgrims
travelling to India. The
central bank will inject INR
200M a month into the
counters.
RTC gets
research
grant
The Royal Thimphu
College was awarded the
Institutional Development
Grant of USD 125,000 from
the prestigious WennerGren Foundation for
GoI releases
Nu 1.99B
The government of India on
14 January handed over two
cheques amounting to Nu
1.99B to the Gross National
Happiness Commission.
Of the total, Nu 1.24B is
for project tied assistance
under which the north
east-west highway widening
works are being executed.
The remaining Nu
751.76M is meant for small
development projects.
ADB to finance
Nyera-Amari
projects
The Asian Development
Bank will finance USD 320M
for the 442-megawatt NyeraAmari hydropower project.
Nyer- Amari is estimated to
generate 478 million units
of energy from the first stage
and 1,222 million units from
the second.
Terdzo Wang
to start in
Lhuentse
The six-month long
Terdzo Wang will begin
on 9 February at Takila in
Lhuentse. Thirty temporary
rooms have been completed
at the site to accommodate
more than 300 people.
About 100 more rooms are
expected to be completed
soon.
p03
dealing
business
Business
Bhutan
january 16, ‘16
Changing forex reserve from US Dollars to INR?
Krishna Ghalley
from Thimphu
A few local economists are
saying that it would make
more sense for Bhutan to
park it’s foreign currency
reserve in Indian banks or
better still if it is converted
into INR and ploughed
back to Bhutanese banks.
This would increase
liquidity in the banks,
thereby making borrowing
easier and cheaper, which
will shoot up investments.
A local economist
suggested that after
meeting the constitutional
requirement of minimum
foreign currency reserve, it
could bank the rest of the
amount in Indian banks
rather than banking in
other redundant banks.
“This would increase
liquidity,” he said.
Article 14, Section 7
of the constitution states,
“A minimum foreign
currency reserve that is
adequate to meet the cost
of not less than one year’s
essential import must be
maintained.”
Once liquidity is
restored, the cost of
borrowing would decrease,
which will promote viable
businesses, he said, “Access
to finance will also improve.
Today with limited liquidity,
there are limited funds and
the government has to be
prudent to whom the loans
should be given,” said the
economist.
Bhutan’s trade balance
with India has remained
negative in the last five
year. As of September 2015,
the country’s trade with
India in electricity is Nu
14,873.68mn in import
while export accounts for
Nu 12,682.72mn, with a
deficit of Nu 2,188.96mn.
Likewise, without trade
in electricity, the country
imported Nu 14,857.97mn
worth of goods but
exported only commodities
worth Nu 6,121.96 with
the negative balance of Nu
8736.01mn.
In 2012, Bhutan’s
negative trade balance with
India grew to Nu 15.21bn,
with import of Nu 41.83bn
and export of Nu 26.62bn
with India with electricity.
Without trade in electricity,
Bhutan’s negative trade
balance further increased to
Nu 24.32bn with 41.82bn of
import and Nu 17.50bn of
export.
In 2013, Bhutan’s
import stood at Nu 43.66bn
while export was Nu 17.75
without trade in electricity.
Thus the trade balance
remained negative by Nu
25.91bn. In the same year,
Bhutan’s trade balance
with trade in electricity
remained negative at Nu
14.91bn with Nu 43.88bn
and 28.97bn worth
of import and export
respectively.
In 2014 too, Bhutan’s
trade balance with India
with trade in electricity
remained negative by Nu
16.05bn and Nu 26.36bn
without electricity.
Meanwhile, Jamyang
Tashi of QED Group,
an independent think
tank, said the objective of
reserve management is not
only to generate returns
through investment,
but also to ensure that
the financial system has
adequate liquidity and
limited risk exposure in
order to maintain efficient
markets and resilience
to external shocks. “To
do that, reserves must be
held in currencies that
are considered reserve
currency,” he said.
He further said INR
does not have reserve
currency status, and
that makes it a bad idea
for any central bank
to hold a share of its
foreign exchange reserves
predominantly in Rupees.
“While I agree that a larger
share of total reserves
than at present needs to
be held in INR to facilitate
more efficient market
transactions, I would be
wary of the lure of higher
returns in India,” he said.
Higher returns mean
higher risk, and the central
bank unlike a private
investor cannot afford to
expose itself to that level
of risk, he said. “Prudent
reserve management
should inspire confidence
that a country can meet
both internal and external
obligations, of which
paying for import is only
one part,” he said. “A
reserve that is seen to be
managed in a risky way
will erode that confidence
from foreign investors and
development partners.”
Local economists say
there is definitely a need
to increase the share of
reserves held in INR but
only to the extent that
market transactions are
made efficient.
“A small foray into
India wouldn’t be so bad,
but once you factor in
the country’s convertible
currency borrowings and
other obligations, I doubt
there is much left to play
with,” said Jamyang Tashi.
The central bank, Royal
Monetary Authority of
Bhutan, said did not reveal
the information saying that
it is confidential and could
not be revealed.
dealing
business
Business
Bhutan
january 16, ‘16
p04
Central Bank eases restriction on rupee, opens five
rupee exchange counters
Five INR exchange counters, three in Thimphu and two in Phuentsholing, were opened early this week and a total
of Rs. 8.68M was exchanged on the first day itself
Dechen Dolkar
from Thimphu
In one of the first major
reforms introduced by the
newly appointed central
bank Governor, the Royal
Monetary Authority (RMA)
temporarily lifted the
restrictions on individual
rupee transactions with
the opening of the Indian
Rupee (INR) exchange
counters in the country.
Three INR exchange
counters in Thimphu and
two in Phuentsholing were
launched on Tuesday early
this week. The exchange
counters were established
primarily to facilitate free
exchange of Ngultrum
for INR notes, particularly
for Bhutanese pilgrims
traveling to India.
The five counters
exchanged a staggering
Rs. 8.68M in the first day
of its operation. Around
205 customers availed the
serviced. Around Rs 7.1M
were xchanged in three
counters in Thimphu
while the remaining Rs.
Rs 1.5M was exchanged
in Phuentsholing INR
counters.
Any Bhutanese citizen
going on pilgrimage to
India can individually avail
INR cash up to Rs. 50,000
from the exchange counter
on producing citizenship
identity card. Earlier,
individuals were entitled to
withdraw only Rs. 10,000 a
month.
Lhab Gyem, 52, who
came to avail the service
said the exchange counters
would facilitate easy and
sufficient exchange of INR,
especially for people who
want to genuinely travel
to India for pilgrimage.
“Until now, it has really
been difficult to get rupees
and the Rs10,000 banks
give was not sufficient for a
pilgrimage,” she said.
She exchanged Rs.
50,000 and will be leaving
for Sikkim on pilgrimage
along with her family.
The Governor of the
RMA, Dasho Penjore, said
the exchange facility is
extended to supplement
free exchange services
provided by five commercial
banks. However, the
Governor made it clear
that this facility is a shortterm measure that RMA is
facilitating to ease access
to INR. “For the long term,
the government may have
to come up with structural
changes like more export
and less import,” said Dasho
Penjore.
The central bank is
wary of the possible misuse
of the facility. To this
end, the RMA’s Financial
Intelligence Unit (FIU)
will be instituting stringent
monitoring and surveillance
systems for people availing
INR from RMA or the
banks.
If any person is found
violating the law or misusing
the facility, they would
subject to the penalties
prescribed under section
I, 10 (I) of Operation
Guidelines for Indian
Rupee Transactions.
The Governor said
depending on need, the
RMA would also gradually
enhance its services and
remove other restrictions
in collaboration with the
banks. “The initiatives are
to re-enforce the national
policy of maintaining one
to one parity between
Ngultrum and INR and to
make it freely accessible to
Bhutanese citizens for all
legitimate transactions,”
said Dasho Penjore.
p05
dealing
nation
Business
Bhutan
january 16, ‘16
Multi-Drug Resistant Tuberculosis on the rise
MDR-TB is not only difficult but also expensive to treat
Lucky Wangmo
from Thimphu
If not nipped in the bud,
Multi-Drug Resistant
Tuberculosis (MDR-TB) has
the potential to become a
major public health issue
in the country especially at
the rate people are getting
diagnosed with the disease.
One person is
diagnosed with MDR-TB
every month in Bhutan.
The number of new cases
of people suffering from
MDR-TB has dramatically
increased from 11 cases in
2012 to 49 in 2013 and 61
in 2014.
MDR-TB is defined as a
form of TB infection caused
by bacteria that are resistant
to treatment with at least two
of the most powerful firstline anti-TB drug, isoniazid
and rifampicin.
Talking to Business
Bhutan, the Chief Medical
Officer at Gidakom Hopsital
in Thimphu, Dr. Chencho
Dorji, explained that
isoniazid and rifampicin are
also called first-line drugs
(drugs to treat normal TB)
while drugs to treat MDR-TB
are called second line drugs.
The five basic or
first line TB drugs are
Isoniazid, rifampicin,
pyrazinamide, ethambutol,
and streptomycin. “So
by definition, MDR-TB is
resistant to isoniazid and
rifampicin but may or may
not be resistant to other
three-line drugs,” he said.
“MDR-TB is caused
due to inadequate therapy,
inconsistent or partial
treatment on the part of
the patient or due to poor
quality or shortage of drugs,”
said Dr. Chencho Dorji,
He also added that
MDR-TB occurs because
patients stop taking their
anti-tuberculosis medication
once they start to feel
better. “Poor treatment,
poor quality of drugs and
poor adherence leads to
development of MDR-TB,”
he added.
Treating MDR-TB is
expensive since multiple
drugs, which are entirely
different from normal TB,
are used for a period of
two years. For a normal
TB patient, the treatment
duration is for six months
without any injectable drugs
while a person undergoing
treatment for MDR-TB has
to get injection for the first
six months (intensive phase)
and is usually admitted at the
hospital.
The cost of treating a
normal TB patient is around
US$ 34. The treatment of
a MDR-TB patient however
touches a whopping US$
2,800, excluding the hospital
expenses. The costs can go
up to US$ 7,000 especially
for those patients if more
drugs are added to modify
the treatment due to adverse
effects or for those patients
who show poor response.
Dr. Chencho Dorji said
the only solution to control
drug-resistant TB is to have
intense awareness programs
and intense counseling for
TB patients.
TB patients need to
be cured at the first time
round. “There is also a
need for early diagnosis
and treatment of MDR-TB
patients,” said Dr. Chencho
Dorji. “There is also a need
to ensure adequate infection
control in facilities where
patients are treated and
ensure appropriate use of
recommended second-line
drugs.”
According to the
annual health bulletin
2015, although the number
of patients suffering
from normal tuberculosis
decreased from 1,065 in
2010 to 954 in 2013, the
number has shot up to 1,187
in 2014.
Bhutan: one of the finalists for World Habitat Awards
Community development project, led by Tarayana Foundation has been selected as one the finalists for the award
Alka Katwal
from Thimphu
Bhutan is one of the
finalists for the prestigious
World Habitat Award:
an award given annually
to projects that provide
practical and innovative
solutions to current housing
needs and problems by
the Building and Social
Housing Foundation as
part of its contribution
to the United Nations
International Year of
Shelter for the Homeless.
Bhutan’s
“Comprehensive
community development
for poverty alleviation”,
a project led by Tarayana
Foundation has been
selected as one the finalists
for this award.
“This is the first time
for Bhutan to be selected as
one of the top ten finalists
for this wonderful award.
The Tarayana family is most
excited about this and for
us, coming this far in itself
is a great achievement,”
said Sonam Pem, Program
Director, Tarayana
Foundation.
“We would think that
the model of the project is
what took us this far. For us,
we see all the issues on the
ground being interlinked
and therefore, believe in
solving it with the same
holistic approach, and not
looking at it sector based.
Also, how we maximized the
small fund that was at our
disposal could be another
reason, considering the
remoteness of the site and
limitations to services like
road and electricity,” she
added.
The project, “Bhutan’s
“Comprehensive community
development for poverty”,
focused on the Olep ethnic
group who live on the
western fringes of Jigme
Singye Wangchuck National
Park.
Originally a nomadic
hunter gatherer community,
the Olep were encouraged
by the government to settle
in Rukha in the early 1970s,
so that they could benefit
from the development
initiatives that were taking
place in the country. With
no experience of settled
living and their earlier
means of living off the forest
no longer available, the
community fell into extreme
poverty.
This project has
developed skills and
encouraged a self-help ethos
that has successfully helped
the community recover and
prosper. Originally focusing
on the village of Rukha, the
project has spread to 150
other villages across Bhutan.
The project’s main
aim was to empower the
local community so that
they could help themselves
out of poverty. This was
achieved through the key
objectives such as awareness
creation of the roles, rights
and responsibilities of the
community members and
education of the children
as well as non-formal adult
literacy programs for the
adults, among others.
Besides Bhutan, the
other nine entries are from
Chile, Colombia, Malawi,
Puerto Rico and United
Kingdom.
“For us, we see all the
entries competent enough
for the award. All are
operating under different
circumstances with their
own fair share of challenges
and therefore, have come
up with innovative solutions
involving the beneficiaries,”
said Sonam Pem.
“Through our
experience, looking
for funds to support
disadvantaged communities
and families with housing
improvement has been
most difficult, while it is a
basic need. If we win this
award, we hope to convince
many donors, partners
and supporters to support
such initiatives especially
housing improvement,”
she said, “Through our
dozen year of experience,
we can validate that if
people have a proper roof
over their head, everything
else will fall in place by
itself, of course, with some
facilitation.”
Tarayana is currently
replicating this model in
49 villages under the Rural
Economy Advancement
Programme (REAP)
Phase II. The program
is outsourced by the
government through the
Gross National Happiness
Commission (GNHC)
and is funded by the
Government of India
(GoI).
An award of £10,000 is
presented to each of the
two winners. The winners
will be announced in
February and presented
with their awards at Habitat
lll in October 2016.
Business
Bhutan
january 16, ‘16
editoria
Our views & perspectives
IS ELECTORAL APATHY
SETTING IN?
I
t’s almost cliché to say Bhutan
is a young democracy. Truth is,
we are still in the early stages
of the democratization process.
Our democracy just completed its
eighth year. We have had only two
parliamentary elections so far. The
second Local Government election
has just begun, although slightly
on a discouraging note, if poor
participation and turnout at common
forums, campaigns and zomdus is any
indication.
What is very unnerving is the fact
that voters and constituents are almost
indignantly refusing to exercise their
right to participate in the electoral
process, either in the nomination
of candidates or in zomdus and
common forums. These are vital
democratic processes through which
the constituents elect the most capable
leader of their choice, and who by a
long way is the most competent one.
However, just the contrary has
been happening at the ongoing
Local Government elections. Some
constituencies in Thimphu saw a
handful of registered voters turn up,
as pathetic as four or five, to nominate
their candidates. The numbers weren’t
impressive even during the common
forum sessions. The situation has not
been so different in other thromdes as
well.
There are many questions that beg
honest answers. Why is this happening?
What are the possible reasons? Could
it be that voters are already fatigued by
elections? Or are they not interested
to participate in the electoral process,
any more? Or is the poor response to
be attributed for insufficient level of
advocacy and voter education? Or worst
still, are Bhutanese voters becoming
apathetic to elections?
Although there can’t be no single
reason or cause why a group of voters
just do not want to be part of an event
that could affect their lives in many
ways than they can ever fathom. And for
certain, we possibly cannot be exhausted
due to the last elections because it was
held two and half years ago. There is a
much deeper reason, and we must make
efforts to understand these reasons so
that we can come up with solutions.
Democratic decisions such as
elections require people’s participation.
The more people participate to choose
their leaders and government, the
more reliable the decision becomes,
and elected leaders and government
enjoy greater legitimacy. That’s why
democracy is the rule of the majority.
And that’s why it is the responsibility
of the Election Commission of Bhutan
and also quite a number of civil society
organizations that champion democracy
to create greater level of awareness,
understanding, and willingness among
people to participate in elections.
Looks like the Local Government
election was a rushed event. The
announcement of election dates
was quickly followed by zomdus,
common forums, and now debates are
expected to begin. In a month’s time,
three thromde elections in Gelephu,
Phuentsholing and Thimphu would be
completed. And we hope, there would
be a good number of voters turning
on the poll day. Let’s hope because
not much has been done to prod and
prompt people to vote. It is election
season but there is hardly any media
campaign and voter education in the
media. It appears even the authorities
conducting the election are not really
interested!
A young electorate can be easily
dissuaded by politics, by fear, by apathy.
We need to get into the core of these
issues to make our democracy more
vibrant, effective and progressive.
Certainly, we have a long way to go!
p06
Namgay
ZAM
To trolls, with Love
I will do and say, as I please. You cannot force
my hand. Do not politicise my choices or my
actions. Unlike you, I have better things to do
with my life than try and fit everything into
tidy PDP and DPT boxes.
You thought I was in the PDP camp
during the elections. When I resigned from
BBS immediately after, you became confused.
“But, I thought she was…” Surprised you,
didn’t I? I vote, yes. But the party I vote
for will never influence the way I write or
think. You see, I write when I am inspired
or feel anger and sadness. I don’t write out
of jealousy or pettiness. I write because I
have a space you don’t. I earned it being
myself- not someone’s daughter/ sister/
in-law, and definitely not by being a faceless
coward attacking everyone with malice and
contempt. Unlike you, I stand by every word
I write or say. Not a single alphabet of mine is
obsequious.
I don’t care whether you are PDP or DPT.
I have friends in both camps, and feel sorry
for people in both camps too. I will not flog
dead horses. Do not for a second think you
will be able to draw me into facile political
arguments by accusing me of bias. I am not
biased the way you are with your blinkered
(and oftentimes fake) Raybans and Guccis.
I am biased when it comes to trolls, and
humans who treat others as steps on a ladder.
I feel nothing but pity for you. BTW, I reserve
this emotion only for the hopeless.
Congratulations on making it this far! I
am surprised you have the patience to read
more than half of my column. By now, you
have already thought of several hideous
tweets you will send my way, digging up what
you perceive as “dirt” on me, and my family
after you are done here. Bite me! Unlike you,
I’m no political lapdog.
Some of who you send me all this love,
especially on Twitter are old enough to be
my parents and yet are as spineless as you are
faceless. I feel sorry for your children and
younger siblings who look up to you. Some
of you have faked those smiles at me, and
have pretended to care about my well-being
and work when all you want is for me to fail,
and fall flat on my face. Unlike you, I am not
afraid of failure or falling. My successes and
failures are honest, and my own. Since you
didn’t give them to me, you cannot take them
away. All you can do is troll. What a life.
Business Bhutan p.o box 1190 changzamtok, Thimphu
Please send your opinions and commentaries to businessbhutan@gmail.com
or kelly.shering@gmail.com
The writer is a freelance journalist and currently a
Humphrey fellow
opinion
I
Business
Bhutan
january 16, ‘16
p07
YOUR VOICE MATTERS
His mere presence on this Amala’s Gawa - IX
earth shattered hypocrisy
Luzee
A message from Dzongsar Jamyang Khyentse Rinpoche upon the
passing of Chatral Rinpoche
5 Jan 2016: The passing of Chatral
Sangye Rinpoche marks the end
of an era. Suddenly we have lost a
sentry who was zealously guarding
the Buddhadharma in general, the
Vajrayana in particular, and especially
Tibetan Buddhism and the Nyingma
lineage.
The word chatral has the
connotation of an ascetic yogi who
abandons all. Usually names are given
as labels. But in the one now passing
into paranirvana, the name Chatral was
not just a label. He was the epitome and
embodiment of what the word chatral
really means.
In his long lifespan of more than
102 years, this is a man who did so
much, associated with some of the
greatest beings, and became master of
the masters, including teaching and
becoming the guru of the very man
who found the 14th Dalai Lama Tenzin
Gyatso, who was known as Yongzin
Gyaltsab Radreng Rinpoche. Yet this
same man can barely boast a monastery,
institute, or dharma centre. Around
him, paraphernalia like gold-plated
roofs and thrones are nowhere to be
found. He was a Chatralin the true
sense.
But make no mistake: Many lamas
like myself, who make the loudest
noises, display the most jarring images,
and travel every inch and corner of the
world, have achieved next to nothing
compared to this man who appears
never to have done anything except for
keeping his meditation mat from ever
getting cold. And if he did manifest
in action, this is the man who spent
99.99% of what he had rescuing the
lives of animals. So for ignorant beings
like us to try and express the great
qualities of this enlightened being is like
trying to measure the depth and width
of the sky.And yet if I may express one
thing from the little I have known of
this man it is this: The Buddhadharma
has so many challenges, including all
the charlatans who do outright damage
to the image of the Dharma. These may
be overcome by those who seem to do
the right thing, who appear serene,
proper, and moral, and who never
upset anyone. But that often leads us
into another challenge that is harder
to overcome. Because in doing things
correctly, properly and morally, and in
bearing the burden of not upsetting
people, one ends up being the victim
of political correctness and becoming
hypocritical.
In my limited life I have seen very
few anti-hypocritical beings, and he was
one of them. He meant business, there
was no negotiation, and of course he
never traded one single word of the
dharma for money. Time and again, he
refused to bow down to the mighty.
He made a lot of us hypocritical
beings shudder. Just knowing he was
alive and breathing somewhere between
Siliguri and Pharping made our hearts
quake. Even though we never got to
see him, especially towards the end
of his life – and I myself was refused
an audience 20 times or more – his
mere presence on this earth shattered
hypocrisy.
To express our homage, veneration
and supplication, may we disciples of
this man keep in our lives the practice
of freeing living beings, such as
releasing fish, and especially so within
this month.
A child at home is the perfect reason to create
new bonds and renew the existing ones.
A child at home is the perfect time to
acknowledge and thank your parents for their
unconditional love and affection.
A child at home is yet another moment for
the everyone to revive forgotten moments and
cherish the bonding that is renewed because of
a common subject, the baby. Like I said, for a
long time I have ceased to bear my own identity
- because, the first thing anyone wants to know is
“How is Lo-lo?”
My parents who raised seven children of
their own and now the fourth grandchild in line
is never short of their energy. Just days after they
heard about my pregnancy, they zoomed back to
Thim-phu - all packed and eager to “stay home
with the child”. Both in early late sixties (then),
I felt bad to think of making them baby-sit. But
honest, I couldn’t have trusted anyone else.
First day at work…worried.
Second day...little less worried.
Third day...no worry at all…
Note: Thank you Apa and Ama. Looking at
the way you nurture our children, we realise how
fortu-nate we are. And thanks for never trusting
another soul near our children.
After sometimes, everyone at home ceases
to exist and there is only that little bundle of joy
who keeps the fire of life on. When back from
schools, my other three girls run against each
other to reach to Lolo. Often, it was in unison,
“Lolo!” and pairs of arms stretched to fill in the
thin air!
“I love my nieces and nephew like my own
children; Now with my daughter my siblings
behave as if they never had any children of their
own.” I meant it, seriously meant it.
I haven’t seen my siblings that excited
before, despite being parents much earlier than
me. They are more excited than me to witness
Lolo’s growth, who is endlessly being showered
with love, af-fection and blessings day in, day
out.
For the first time in my life, I realized I was
capable of making others happy - through my
daughter. Such a blessing, you know, to have a
reason to look forward to tomorrow.
A child at home is the ultimate wealth. It’s
not only “Amala’s Gawa” alone but everyone’s.
The writer is an avid blogger
Business Bhutan provides this vital public space to citizens from cross section of the society to encourage free and frank debate, dialogue and discussion. Views and opinions
expressed here are that of the writer. If you wish to contribute, please email your opinions, views, and commentaries to businessbhutan@gmail.com or kelly.shering@gmail.com.
Business
Bhutan
january 16, ‘16
face2ecaf
p08
Talking to one and many
‘No other neighbor of India can beat Bhutan in its
commitment to New Delhi’
An independent freelance journalist based in New Delhi, India, Vishal Arora has travelled and reported
widely for various international publications. He visits Bhutan regularly and is a well-known name in the
Bhutanese media circle. He considers himself “a Bhutanese at heart”. Business Bhutan’s reporter Chencho
Dema talks to him about his work, his love story with Bhutan and challenges that journalists face.
Q. What is your role as an independent freelance
journalist? Which publications have you worked
for? Challenges and difficulties you encounter
while reporting?
I travel and cover life and politics in South and
Southeast Asia, and beyond, for a number of media
outlets, mostly in the U.S., the U.K. and Japan. I have
been a journalist for about 13 years, and I have been
published in The Washington Post, The Wall Street
Journal, The Huffington Post, The Guardian, Nikkei
Asian Review, The Diplomat, Bangkok Post, Asia
Times among others. I have worked full-time as an
editor with Indo-Asian News Service and as Features
Editor with The Caravan.
Dasho Karma Ura
I’m very new to visual or multi-media, something that
all journalists need to learn to survive in the years to
come. Websites around the world now have videos
complementing stories, and people generally like to
watch news videos on their laptops or smartphones.
As journalists, we need to share stories in the medium
that today’s youth prefer, and that’s multi-media.
I have been learning the skills involved, informally,
from my journalist friends around the world, and, of
course, also in Bhutan.
Q. What are some of the notable stories you have
covered about Bhutan?
Vishal Arora
My challenges have mostly to do with the quantum of
work. I have more assignments than I can handle. So
my plan is to write together, with a shared byline, with
journalists in the countries I cover.
Q. Tell us a little about your love story with Bhutan.
I fell in love with Bhutan in January 2010, when I
visited the country for the first time. I found the people of Bhutan to
be exceptionally good at heart. For example, the day I was to depart
for India, I realized i was short of money to hire a cab to reach the
Paro airport. I didn’t carry enough cash while coming to Bhutan,
hoping I would be able to use my credit or debit cards. When staff in
my hotel in Thimphu came to know about it, they offered Nu.1,000,
which must have been a substantial part of their monthly salary. They
did so voluntarily, and despite knowing that I might never come back.
That’s when I decided to visit Bhutan and cover it on a regular basis.
Q. What do you have to say about the media scenario in Bhutan
as compared to India or other countries?
The challenges that Bhutanese media face may not be too different
from press in the rest of the world. Generating advertising revenue,
for example, is a global issue, and so are issues related to press
freedom - be it laws restricting the right to the freedom of expression,
or self-censorship, or the right to information. Laws might promise
more rights elsewhere in the world, but they are generally not
implemented in spirit, or a journalist is threatened with violence
and other intimidations if they assert those rights. However, Bhutan’s
situation is unique because dealing with challenges in the local
context is not easy. Bhutan is a new democracy and activism is not
part of the culture.
I’m quite impressed with journalists here, as they have come a long
way, in terms of the quality of journalism and the way they cover issues,
since the birth of the private media before His Majesty introduced
democracy. Most of them appear to be suffering financially, but they
are staying the course.
Q. You are now venturing into visual medium. How do you feel
about this to-you- relatively new field?
Tobgay.
I don’t know if my stories have been notable, that’s
for the readers to decide, but I have done quite a
number of stories on Bhutan. The one that received
a lot of response, both positive and negative, was for
The Diplomat, in which I said that press freedom in
Bhutan is not as bad as the world thinks. Of course,
I have also enjoyed doing stories based on my
interviews with both former Prime Minister Jigmi Y.
Thinley and the incumbent Prime Minister Tshering
Q. What do you feel about the whole Indo-Bhutan-China
geopolitics in brief?
India-Bhutan relations are quite unique in light of the India-China
competition for regional influence. No other neighbour of India
can beat Bhutan in its commitment to New Delhi. It’s such a contrast
to what you find in Nepal, where the country’s relations with India
generally depend on who at the helm of governance is. While it
is in Bhutan’s interest not to make New Delhi insecure, India also
needs to do its part, which is to value Thimphu’s commitment and
loyalty, and reciprocate that with the acknowledgement of Bhutan’s
sovereignty.
Q. Any last words for Bhutanese journalists?
Carry on with the good work. Diversify the source of revenue, or
change the business model. For example, a news organization can
have other small businesses to help finance its newspaper. Write
for foreign media as well, and cover the South Asia region, and not
just Bhutan. Start a news agency that is jointly owned by various
newspapers, so that newspapers wouldn’t have to send reporters to
cover every story. This will also help bridge the urban-rural coverage
gap, as the news agency would be in a better position to cover rural
areas. The agency can train local people in rural areas as reporters,
and have a desk in Thimphu with good editors. The agency can also
send news to media around the world, so that Bhutan gets more
coverage in the international media - with stories that are explained
well for a foreign reader but from Bhutan’s perspective. And above
all, develop a thick skin while practicing internationally accepted
ethics of journalism.
Business
Bhutan
january 16, ‘16
green story
p09
Environment, conservation and our future
2,782 households benefit from community forests
An area of 22,034 acres is covered by the community forests in Trashigang
Tshering Dorji
from Trashigang
Ever since the dzongkhag
forestry sector handed
over 49 community forests
to the public of different
gewogs in Trashigang, 2,782
households have been
benefitted.
An area of 22,034 acres
is covered by the community
forests in Trashigang.
The Dzongkhag Forest
Officer (DFO), Jigme
Tsheltrim Wangyal said there
are numerous benefits of
community forest aligning
with the principles of Gross
National Happiness.
For instance, by
handing over community
forests to the public, it is
easier especially for the
community to acquire
timber as expenses are
reduced and permit is given
by the respective chairmen,
of the community forests as
compared to before when
people had to travel to
the dzongkhags to acquire
timber.
He also said that
unlike government reserve
forests, the community sells
whatever resources they
have or use the resources
themselves while money
will remain in the common
community fund spurring
economic development.
The community elects
a chairman, secretary and
treasurer for the community
forest which is related to
good governance. The forest
is based on sustainable
management therefore it
does not hamper the natural
environment.
“It is one tool to reduce
poverty in the villages,” said
the DFO.
The dzongkhag will
be handing over five new
community forests to
the people of Udzorong,
Rangshikhar and Phongmey
in June this year.
Khaling and Udzorong
have six community forests,
the highest in number
and the lowest number of
community forests is in
Sakteng with one. Merak
does not have a community
forest till date.
Rongthung community
forest chairperson, Sangtu
said there are numerous
benefits from community
forest; for example, people
will shoulder responsibility
if there are some monetary
incentives for caretakers.
“If we could protect
forests, than human wildlife
conflict can be reduced
and there will be no water
shortage in the villages,” he
said.
In 2009, about 722 acres
of forest were handed to
the public in Trashigang
. Now trees can be seen
where there was barren land
before.
The minister for Works
and Human Settlements,
Lyonpo Dorji Choden while
visiting Trashigang, said
community forests have
numerous benefits and
people can avail its services
nearby and faster.
The community
forest program is one of
the regimes for forest
management in Bhutan.
The Social Forestry
Division (SFD) under the
Department of Forest and
Parks Services (DoFPS),
Ministry of Agriculture
and Forests (MoAF), is
the main government
agency responsible for
supporting the community
forestry programs in all
20 dzongkhags of Bhutan.
A community forest is
managed by local people
who are the traditional
users of the forest, called
the Community Forest
Management Group
(CFMG). On approval
of a community forest
management plan, the
government provides
community forest
members the right to
utilize forest products
from their designated
community forest in return
for taking responsibility
for its management
and protection. The
management plans, which
are formulated by the
community forest with the
help of District Forestry
Sector staff aand approved
by the DoFPS form the
basis for execution. This
management plan act as
an agreement between the
community forest members
and the government.
dealing
nation
Business
Bhutan
january 16, ‘16
p10
When more is not merrier
Parliamentarians and legal experts say instead of passing too many laws, Bhutan would do well by
streamlining existing laws
Chencho Dema
from Thimphu
In every session of
Parliament, new bills are
introduced and new Acts
are passed. The irony is
lawmakers themselves feel
that there are to many laws,
many defunct and obsolete.
Today there are more
than 200 plus laws in the
country. The first law ever
passed was Thrimzhung
Chenmo in 1953.
Parliamentarians
fear that more laws and
over legislating will only
burden the country with
unnecessary regulations
and systems. “Passing a
good law is necessary but
passing too many laws is
not. Many laws do more
harm than good,” said a
parliamentarian.
A few parliamentarians
Business Bhutan talked
to said Bhutan has too
many laws and it is rapidly
approaching a point
where the country would
be swimming in a flood of
legislations.
Council Member
from Samtse constituency,
Sangay Khandu, who is
also the Chairman for the
Legislative Committee
of National Council, said
there are too many laws
and some laws are not
put in use. “We need
to have quality laws. By
legislating many laws,
we may compromise the
quality. Instead of passing
new laws, we need to review
and amend laws that we
have in hand. Moreover
we have to look at the cost
factor while legislating and
implementing,” he said.
An Attorney with
Bhutan Law Services,
Younten Dorji, said for a
small country with a small
population, there are more
laws than is necessary.
“Having too many laws
is not a solution to legal
problems,” he said.
He said there are
some laws which people
are neither aware of and
nor implemented by the
state. And some laws, eh
added, are unreasonably
severe. “For some offences
where imprisonment is
really unnecessary, our laws
just provide it otherwise.
This shows that our laws
are more regressive than
progressive. And as such it
fails to achieve its greater
objective,” he said.
There are also instances
where a particular offence
is put under two different
Acts, pointed out the
private lawyer, which causes
conflict and confusions.
“We need laws that are
more rational, uniform, just
and practical, so that there
will be more compliance
and less violations.
Enforcement will become
far easier and it will be in a
fair and uniform manner,”
added Younten Dorji.
Meanwhile Ugyen
Wangdi of Dramedtse –
Ngatshang constituency,
also the former Chairman
of Legislative Committee
of National Assembly said
many laws means many
implementing agencies
which in turn leads to redtapism in the system.
“Too many laws not
only complicate the system
but it victimizes people
who do not know about its
existence and penalized for
being breached due to lack
of knowledge,” he added.
The current
Chairperson of the
Legislative Committee of
National Assembly, Lekey
Dorji, however said he
cannot say whether Bhutan
has too many legislations.
“In a parliamentary
democracy, the basis for
governance is the law
enacted by the parliament.
Where there is a lacuna,
executive arm of the
government may fill it in
if it does not nullify the
provisions of a law,” he said.
He said it is simplistic
to think that a small
country may not require
as many laws. “But as a
sovereign independent
country, we need all the
systems in place just like
big countries. All ministries
and agencies work based
on the provisions of the
legislations pertaining
to them, that is why we
have RMA law, RAA law,
Election law, ACC law, civil
service law, Biodiversity law,
OAG law, NA law, NC law,
Lhengye Zhungtshog law,
Judiciary law, and so on,”
he said.
The executive governs
the country according to
the laws and the judiciary
adjudicates the laws, he
added. “Small countries
may not have complications
that a large country has
but we need written laws to
ensure that the government
executes things in a
uniform way. Otherwise,
the government of the day
may execute things in ways
that may solidify its hold
and keep the minority
parties away.”
p11
dealing
nation
Business
Bhutan
january 16, ‘16
Avail electric fencing to tackle humanwildlife conflict: PM
Lyonchhen is on a visit to 14 gewogs in Trashigang starting 12 January
Tshering Dorji
from Trashigang
Human-wildlife conflict
was one major issue that
Lyonchhhen Tshering
Tobgay touched upon while
talking with the people
in Yangnyer gewog at
Trashigang on 14 January.
Lyonchhen said that the
communities are aware
of the benefits of electric
fencing and should avail
it to tackle human-wildlife
conflict.
Lyonchhen Tshering
Tobgay said that the
government’s role is to
provide electric fencing to
the villagers at a subsidized
rate and the people’s
responsibility is to take
advantage of it themselves
or seek help from the gewog
administration to install it.
A km of electric fencing
that is enough to cover
three to four acres of land
would cost about Nu 32,000.
Only Durung village
in Yangnyer has 18km of
electric fencing. Apart
from electric fencing,
Lyonchhen said that to
protect its water source, the
government has kept apart
Nu 70,000 for maintenance
in response to Yangnyer
Gup, Sonam’s concerns
about Yangnyer being
prone to drinking water
shortage in winter.
“I am happy to see that
black topping of Yangnyer
Gewog Center (GC)
road is under progress,”
he said adding that the
government is spending
Nu 51.9M for 18km of road
and its black topping.
He said that by 2017 the
government will provide
a power-tiller to every
chiwog.
In order to improve
means of livelihood,
Lyonchhen also suggested
that villagers should
avail the services of
Business Opportunity
and Information Center
(BoIC). BoIC has approved
108 projects in Trashigang
of which four projects are
in Yangnyer.
Meanwhile, people of
Yangnyer gewog also shared
their concerns regarding
the need of an auction yard
in Kanglung or in Khangma
rather going to Samdrup
Jongkhar,
Minister-in-charge of
Trashigang Dzongkhag,
Lyonpo Dorji Choden
who is accompanying
Lyonchhen, said that
farm shops aim to buy
agricultural and dairy
products from villagers
and improve the quality
of agricultural and dairy
products in the villages.
She said that in order to
sell farm products in bulk,
villagers are encouraged to
form farmers’ groups.
Lyonchhen also
visited Phongmey on 13
January and shared that
the construction of a
bridge over the Yudhiri
River in the gewog will
begin next winter after a
proper feasibility study. The
construction of bridge will
cost about Nu 41M.
When Lyonchhen
started his eastern visit
with Bidung on 12 January,
villagers raised concerns
regarding the upcoming
Gamrichu hydroelectric
project in response to
which Lyonchhen said that
the government has already
carried out geotechnical
studies.
The Prime Minister will
be visiting 14 gewogs in
Trashigang accompanied by
Lyonpo Dorji Choden and
cabinet secretary Kinzang
Wangdi.
འབྲུག་ཚོང་འབྲེལ།
སྤྱི་ལོ་ ༢༠༡༦ སྤྱི་ཟླ་ ༠༡ པའི་སྤྱི་ཚེས་ ༡༦ རེས་གཟའ་ཉིམ།
བཅའ་ཁྲིམས་ཚུ་ ག་དེམ་ཅིག་ སྒྲིང་སྒྲིང་ཡོད་རུང་ མཆོད་རྟེན་ཚུ་
སློངས་ཏེ་ར་ཡོདཔ།
འབྲི་མི་་་་་ཡོན་ཏན་འཕྲིན་ལས།
༉ རྒྱལ་ཁབ་ནང་ མཆོད་རྟེན་བསྡོམས་ཀྱིས་༢༦༨༤
ཉམས་གསོ་ཞུ་ནིའི་དོན་ལུ་ གྲོས་འཆར་བཙུགས་ཡོད་མི་
ལས་ ད་ལྟོ་ མཆོད་རྟེན་༡༦༣༡ ཉམས་གསོ་ཞུ་ཚར་ཡོདཔ་
ད་ ལྷག་ལུས་མཆོད་རྟེན་ཚུ་ ད་རེས་ཀྱི་ཟླཝ་ནང་ མཇུག་
བསྡུ་དགོ་ནི་ཨིན་པས།
ཉམས་གསོ་ཞུ་ནི་གི་ གྲོས་འཆར་བཙུགས་མི་ཚུ་གི་
གྲས་ལས་ བཀྲིས་སྒང་རྫོང་ཁག་ནང་ མཆོད་རྟེན་༨༤༧
ཉམས་གསོ་ཞུ་དགོཔ་ཡོད་མི་ལས་༨༢༧ ཉམས་གསོ་
ཞུ་ཚར་ཡོད་མི་དེ་ མཐོ་ཤོས་ཨིནམ་ད་ མོང་སྒར་རྫོང་ཁག་
ནང་ མཆོད་རྟེན་༤༨༥ དང་ ལྷུན་རྩེ་རྫོང་ཁག་ནང་༡༧༥
ཡོདཔ་ཨིན་པས།
རྩི་རང་རྫོང་ཁག་ནང་ མཆོད་རྟེན་༤ ཉམས་གསོ་ཞུ་ནི་གི་
དོན་ལུ་ གྲོས་འཆར་བཙུགས་མི་དེ་ ཉུང་ཤོས་ཨིནམ་ད་
གསར་སྤང་ལུ་ མཆོད་རྟེན་༣༣ ཡོད་མི་ག་ར་ ཉམས་གསོ་
ཞུ་ཚར་ཡོདཔ་ཨིན་པས།
གཞལམ་སྒང་ལུ་ མཆོད་རྟེན་༥༠ དང་ སྤུ་ན་ཁ་ལུ་
མཆོད་རྟེན་༦༧ དབང་འདུས་ཕོ་བྲང་ལུ་༡༣༩ ཀྲོང་གསར་
ལུ་༨༧ ཧཱ་ལུ་༦༨ བསམ་གྲུབ་ལྗོངས་མཁར་ལུ་༥༠
མགར་ས་ལུ་༡༡༠ ཆུ་ཁ་ལུ་༣༦ ཡོད་མི་ཚུ་ ད་ལྟོ་ ཉམས་
གསོ་ཞུ་ནི་གི་ལཱ་ཚུ་ མ་འབད་བར་ཡོདཔ་ད་ བསམ་རྩེ་
ལས་ ཉམས་གསོ་ཞུ་ནི་གི་ གྲོས་འཆར་ མེདཔ་ཨིན་པས།
ལམ་སྲོལ་ལས་ཁུངས་ཀྱི་ ཅ་རྙིང་ཉམས་སྲུང་ལས་ཁུངས་
ཀྱི་ བཟོ་རིག་འགོ་དཔོན་ལས་རོགསཔ་ སངས་རྒྱས་ཀུན་
དགའ་གིས་ བཤད་དོ་བཟུམ་འབད་བ་ཅིན་ ཉམས་གསོ་གི་
ལཱ་ཚུ་ མ་དངུལ་མེདཔ་ལས་ མཇུག་བསྡུ་མ་ཚུགས་པར་
ཡོད་ཟེར་ཨིན་རུང་ ཉམས་གསོ་གི་ལཱ་ཚུ་ བློན་ཆེན་ ཚེ་རིང་
སྟབས་རྒྱས་མཆོག་གིས་ སྤྱི་ལོ་༢༠༡༤ སྤྱི་ཟླ་༡༡ པའི་
ནང་ བཀའ་གནང་པའི་ཤུལ་ལས་ར་ འགོ་བཙུགས་ཏེ་
ཡོད་ཟེར་ཨིན་པས།
བཟོ་རིག་གཙོ་འཛིན་འགོ་དཔོན་ གནག་མཚོ་རྡོ་རྗེ་གིས་
བཤད་དོ་བཟུམ་འབད་བ་ཅིན་ མཆོད་རྟེན་ཚུ་ བདག་མེད་
སྦེ་ བཞག་ནི་དེ་གིས་ ཨར་རྐུན་འབད་མི་ཚུ་གིས་ཡང་ གོ་
སྐབས་ལེན་ཏེ་ འདུག་ཟེར་ཨིན་པས།
མོ་གིས་ བཅའ་ཁྲིམས་ཚུ་ ག་དེམ་ཅིག་ སྒྲིང་སྒྲིང་སྦེ་ཡོད་
དེ་འབད་རུང་ བྱ་ངན་འབད་མི་ཚུ་གིས་ འབད་དེ་ར་ སྡོད་དོ་
ཡོདཔ་ད་ ནང་རྟེན་ཚུ་གི་སྐོར་ལས་ ཁ་གསལ་ཚུ་ཡང་ ག་
ནི་ཡང་མིན་འདུག་ཟེར་ཨིན་པས།
མོ་གིས་ མཆོན་རྟེན་སློངས་མི་གི་དཀའ་ངལ་དེ་ མི་སྡེ་གི་
དཀའ་ངལ་གཙོ་བོ་ཅིག་ལུ་ འགྱུར་ཡོད་པའི་ཁར་ མི་ཚུ་ལུ་
གོ་བརྡ་སྤྲོད་ནི་དེ་ཡང་ ལཱ་ཁག་འདུག་ཟེར་ཨིན་པས།
བྱ་ངན་འབད་མི་ཚུ་ མང་སུ་ཐོན་མི་ལུ་བརྟེན་ ནང་རྟེན་
ཚུ་ རྩིས་ས་གི་ནང་ནང་ བཙུགས་ནི་གི་སྐོར་ལས་ ཐབས་
ཤེས་ཚུ་ བཏོན་ཡོད་རུང་ མེདཔ་འགྱོ་ནི་གི་ ཉེན་ཁ་ཡོདཔ་
ལས་ འབད་མ་ཚུགས་པར་ཡོདཔ་ད་ ལ་ལུ་གིས་ མཆོད་
རྟེན་ཚུ་ནང་ སྲུང་རྒྱབ་དང་ འཕྲུལ་ཆས་ སི་སི་ཀེམ་ར་ཚུ་
བཙུགས་ནི་གི་ ཐབས་བྱུས་ཚུ་ཡང་ བཏོན་དགོཔ་སྦེ་ སླབ་
ཡོད་རུང་ འབད་མ་ཚུགས་ཟེར་ གནག་མཚོ་རྡོ་རྗེ་གིས་
བཤད་ཅི།
མོ་གིས་ དཀའ་ངལ་དེ་ལུ་ ག་དེ་སྦེ་ འབད་ནི་ཨིན་ན་ལུ་
ལཱ་ཚུ་འབད་བའི་བསྒང་ཡོདཔ་ད་ དུས་ཅིག་ལོ་མཇུག་བསྡུ་
ཁམས་ལུ་ ས་ཆ་ལྷན་ཚོགས་དང་གཅིག་ཁར་ མཆོད་རྟེན་
ཚུ་གི་ ས་ཁྲ་ཚུ་ཡང་ བཟོ་ཚར་འོང་ཟེར་ཨིན་པས།
སྤྱི་ལོ་༢༠༡༥ ལོའི་ ཟླཝ་གསུམ་གྱི་ནང་འཁོད་ལུ་ མཆོད་
རྟེན་༤༨ སློངས་ཡོདཔ་ད་ ལྷ་ཁང་གསུམ་ལས་ ཨར་རྐུན་
ཤོར་ཡོདཔ་ད་ རྒྱལ་ཁབ་ནང་ མཆོད་རྟེན་བསྡོམས་ཀྱིས་
༡༠,༠༠༠ དེ་ཅིག་ ཡོདཔ་ཨིན་པའི་གནས་ཚུལ།
Royal Government of Bhutan
Dagana Dzongkhang Administration
Gozhi Gewog
NATIONAL COMPETITIVE BIDDING
Ref: GOZHI/12/2016/109
INVITATION FOR BIDS (IFB)
1. The Gewog Administration, Gozhi, Dagana Dzongkhag invites bids for the construction of works detailed in the table. The bidders
may submit bids for any or all of the following works, for the package or for any of the slices.
Sl.no
Name Of work
Bid security Estimate Amount based
(Nu)
on Gelephu rate
1
Construction of Permanent works at Dogak Farm Road Gozhi
Gewog, Dagana
40,000.00
20,00,000.00
Contractor
Category
Duration
(months)
Small (W3)
05 five
2. A complete set of Bidding Documents in English can be downloaded from the Dzongkhag website www.dagana.gov.bt or www.
cdb.gov.bt from 6/1/2016 to 6/2/2016, pay a non-refundable fee of Nu.200.00 in cash to the Gewog Administration, Gozhi, Dagana
during submission of bids.
3. All bids must be accompanied by a bid security of listed above in table, drawn in favor of Gup Gozhi, Gewog, Dagana. Bid security
will have to be in any one of the forms as specified in the bidding document and shall have to be valid for 30 days beyond the validity
of the bid.
4. Bids must be delivered to Gewog Office Gozhi on or before 10.AM on 8/2/2016 and will be opened on the same day at 10:30 AM,
in the presence of the bidders who wish to attend.
5. Interested Bidders may obtain further information from Dzongkhag Engineering Office at Tel.No.481153 during office hours or from
Gewog Administration Gozhi, contract No. 17634882.
Gup,Gozhi
Dzongkhag Administaration
Samdrup Jongkhar
Engineering Sector
“Towards Quality Infrastructure”
SDA/DES-16/2015-2016/3780
NOTICE INVITING TENDER
The Dzongkhag Administration, Samdrup Jongkhar invites seal bids from eligible and qualified bidders registered with construction
Development of Board for the following works.
Sl.No
Name of Work
Category
Contrast
Period
(Months)
Download
Last Date &
Opening
Time for Bid Date & Time
Submission
of Tender
1
Construction of 200 (two
hundred) feet span Double
Double Reinforced Bailey
Bridge at Phokcheri Farm
Road under Serthi Geog of
Jamotshangkha Drungkhag
Large W1
12
(Twelve)
months
18/01/2016 On or before
18/02/2016
at 10:00AM
18/02/2016
at 10:30 AM
EMD
(Nu)
Estimated
Amount
(Nu.)
315000
15.75 M
2. Interested eligible bidders may download a complete set of bidding documents from the Dzongkhag web site www.
samdrupjongkhar.gov.bt or www.ema.bt. Electronic bidding shall not be permitted.
. Bids must be delivered to the Dzongkhag Engineering Sector on above mentioned date and time.
. Bids must be accompanied by a bid security of fixed amount.
. Interested bidders must visit the site of familiarize the site condition prior to filling of the bids.
. Participating in other’s license shall not be entertained.
Chairman
Dzongkhag Tender Committee
AD Business Bhutan, jan 16, ‘16
Gewog Admimnistration
Semjong, Tsirang
GA/semjong-14/2015-2016/162
NOTICE INVITING QUOTATION
The Gewog Administration, Semjong Dzongkhag, Tsirang invites sealed quotation from eligible and Bhutanese qualified license
holder for hiring of following vehicle and machineries.
SL.No
Type of Vehicle
Period of
Hiring
Remarks
1
Excavator PC 200 or equivalent with rock breaker
2015-2016
Including all types of fuel, lubricants, to &
fro transportation, all type of repairs and
mtc. of excavator, operator/driver expenses,
accommodation at site for staffs etc
2
Tripper Truck
2015-2016
-do-
3
Compressor with all necessary items like jackhammer, drill
rods of different length, hosepipe etc, including operator
and skilled jackhammer operators
2015-2016
-d0-
1. Bidding will be conducted throughout the National competitive Bidding procedure specified in the RGoB Procurement manual and
is open to all Bidders
2. Interested eligible bidders may obtain further information from the office of Semjong Gewog , Tsirang Dzongkhag Ph# 17919549
during Office hours.
3. The complete set of Bidding Documents in English may be down loaded from Tsirang Dzongkhag website www.tsirang.gov.bt
with effect from 18th January, 2016 till 1st February, 2016 .The bidder should deposit Nu.200.00 as registration fee to during the
submission of bids.
4. Bids must be delivered to the office of Gup, Gewog Administration, Semjong Tsirang Dzongkhag on or before 10.30AM on
02/02/2016. Electronic bidding shall not be permitted. Late bids will be rejected. Bid will be opened physically in presence of the
bidder’s representatives who choose to attend in person at Gewog Office on the same day of submission on the dated 02/02/2016
at 11.00 AM.
5. All bids shall be accompanied by bid security of Nu.25000.00 in favour of Gup Semjong, Tsirang and should valid 30 days beyond
the bid validity.
Gup
Gewog Administration
Semjong: Tsirang
Respect, Educate, Nurture and
Empower Women (RENEW)
P.O. Box 1404
Lower Motithang, Thimphu
RENEW/MFP/2016/284
VACANCY ANNOUNCEMENT
RENEW is pleased to announce the vacancy for the post of Field Officers
in microfinance project. The place of posting will be either at Dagana,
Bumthang, Trongsa, Trashigang, Tsirang, and Samtse.
Criteria:
i. XII passed with min 60% and above.
ii. Creativity, flexibility and highly motivated.
Requirements:
i. Curriculum Vitae
ii. Copy of CID card
iii. Copy of academic transcript (X&XII)
iv. Security clearance certificate
v. Medical fitness certificate
vi. No objection certificate from current employer (if currently employed)
Interested candidates fulfilling the above criteria may submit their applications
along with the documents latest by January 30/1/ 2016
Shortlisted candidates will be informed through phone for the selection for
interview. Further information, please contact at 02-335077during office hour.
State Trading
Corporation of Bhutan
Ltd.
STCB/HRAS/3/2015/171
ANNOUNCEMENT
State Trading Corporation of Bhutan Limited
invites applications from eligible candidates
interested in taking up the position of Deputy
General Manager.
For details on criteria and other information,
please visit STCB website www.stcb.bt or contact
DGM, HRAS at toll free #194 during office hours.
Management
dealing you
For any design work contact us
Editorial: +975-2-339906 Email: businessbhutan@gmail.com
Marketing: +975-2-339904 / 17994447
Email: ad.businessbhutan@gmail.com Fax: 339882
Royal Monetary Authority of Bhutan
Thimphu
RMA/ADM-44/2015-16/2508
The Royal Monetary Authority of Bhutan invites sealed bids from the interested Bhutanese National contractors having valid trade
licence and registered with CDB for the construction of the security outpost.
A complete set of bidding document can be purchased by the eligible bidders on payment of Nu.300.00 (non-refundable) from the
Adm. & Finance Department from January 18 to February 7, 2016 during office hours.
The bids must be delivered to the office Director, Adm. & Finance Department on or before 12:00 noon on February 8, 2016 and will
be opened on same date at 2:30pm.
Director
Adm. & Finance Department
Phuentsholing Thromde
NATIONAL COMPETETIVE BIDDING (NCB)
PT/ADM-(06)/2015-2016/2794
INVITATIONS OF BIDS (IOB)
The Phuentsholing Thromde is pleased to invite bids from the eligible class “L” (Large) category of contractors registered with
Construction Development Board (CDB) under W3 category for the following works; : Extension of Thromde Office Building,
Phuentsholing Thromde. The Tender document is under sale from 18/01/2016 till 16/02/2016 during office hours; the submission
of Tender is on 17/02/2016 till 12:00 Noon and will be open on same day at 2:30 PM.
For details & and further information please visit www.pcc.bt or www.cdb.gov.bt.or contact procurement section at 05-251018/05251915/05-252169 during office hours.
Executive Secretary
The Textile Museum
Thimphu, Bhutan
Ref: TM/DoC/MoHCA/ADM/2015/-162
The Textile Museum, DoC, MoHCA invites sealed item rate from eligible Trader /Enterprises bidders registered for execution of following
works:
Sl.No
Name of Work
1
Furniture’s & Fixtures for Craft
Gallery. Chubachhu, Thimphu
Category Contract EMD(NU)
Cost of
Period
document
(Nu)
Traders
2Month
100000/-
500/-
Sale of
Tender
8/01/2016
Date of
Date & Time
submission of Opening
08/02/2016
08/02/2016
at 2:30pm
The EMD must be delivered in favour of Chief Curator, The Textile Museum. For further information, please contact the Administrative
Officer at Phone No # 321516/321518 during office Hours.
(Tshering Uden Penjor)
Chief Curator
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dealing you
NATION’S FIRST
FINANCIAL NEWSPAPER
Business
Bhutan
january 16, ‘16
p16
mybiz
international/
Local succeSs stories
Thimphu Comics launches
Bhutanese comic book
Pema Seldon
from Thimphu
Thimphu Comics, one
of the first comic studios
in Bhutan owned by
Pema Tshering and his
team launched its first
comic book “Garpa: The
Attendant” on Thursday at
Voluntary Artists’ Studio
Thimphu (VAST).
The comic book tells
a fictional story based on
the legendary character of
Garpa Lunghi Khorlo, who
was a messenger during
one of the early Penlop’s
time. The character was
believed to run as fast as
the “wheels of the wind.”
“We have been working
on this book for almost
two years. It is not the
first comic book from
Bhutan, but perhaps one
of the first which has
been privately funded and
produced, without any
official support. We are all
very excited,” said Pema
Tshering.
Pema Tshering better
known by his pen name
Tintin, has been working
as an artist and illustrator
for more than 10 years.
He learnt art under the
guidance of Asha Kama,
the founder of VAST,
and the other founders.
He started as a founding
member of VAST when he
was just 13 years old. He
worked on many different
projects, sometimes his
own, and sometimes
commissioned.
An ardent comic book
reader, he was named
Tintin because as a child
he resembled the comic
book character Tintin.
“I love comics, and
grew up reading them. I
loved all the comic stories
from Japan, USA, and
around the world,” says
the 30- year-old Tintin
who also does paintings,
illustrations, logo designs,
and have recently started
to explore sculpture as
well.
As a comic lover,
he believes comics are
a powerful medium of
storytelling. “I felt the
need for local comics that
could tell stories of our
own heroes and legends.
We have so many stories,
but we sometimes forget
or never even know them
as they lack a modern
medium,” he said.
Pema Tshering an artist
found many Bhutanese
stories that have rich visual
potential and he wanted to
create a platform for local
artists to explore this.
He and his team are
publishing the first round
of 1,000 copies. “If these
sell well, we will publish
more,” he said.
With 100 pages, the
book will be sold at Nu
500 per copy and it will
be available in bookstores
across Bhutan.
To publish the comic
book has not been an easy
task for them; they faced
funding challenges but
it didn’t stop them from
forging their way ahead.
They raised money using
an online campaign on
Indigogo.
“We did try to get some
official funds, but it didn’t
work out. However the
support we got through
this campaign was very
touching and appreciated.
There were many people
we never even met, from
around the world who
supported the comic.
And within Bhutan there
were many individuals
who contributed, and this
support has made this
publication possible,” he
said.
Since this kind of
comic book has not been
produced in Bhutan
before, they had to form
their own creative process
and model and trained
themselves. They are a
team which is self-taught
and learnt as they worked.
This was another challenge
they faced.
According to Pema
Tshering, artists in Bhutan
need a lot more support.
Young artists are full of
energy and vision, and
need gainful opportunities
to channel their artistic
endeavors. “VAST has
been a huge platform
for young artists, and
continues to grow, and
I think if more support
comes to VAST, then we
are already on the right
path,” he said.
The next step for the
team is to keep producing
comics through their
comic studio, Thimphu
Comics.
“We have a great
team, and we also hope
to expand our team, and
give more opportunities
to young artists and
illustrators. Thimphu
Comics team hopes to
start a comic culture in
the country,” he said.
p17
dealing
nation
Business
Bhutan
january 16, ‘16
Plans to map chortens to prevent vandalism
It is estimated that there are more than 10,000 chortens across the country
Yenten Thinley
from Thimphu
The Department of Culture
under the Ministry of Home
and Culture Affairs and the
National Land Commission
would be working together
to map all the chortens that
dot the country’s landscape.
As of now, it is estimated
that there are over 10,000
chortens across the country.
Speaking to Business
Bhutan, the Chief Architect
at the Department of
Culture, Nagtsho Dorji
said, “We will be working
together with Land
Commission to map the
chortens and by end of this
year; we should be able
to figure out how many
chortens are there across
the country”.
She said since many
chortens are located in
farflung areas and some
are abandoned because
of which they are prone
to vandalism. “Despite
the existence of strict
laws, chorten vandalism
has become a social issue.
Culprits have become bold
and materialistic,” she
added.
Little knowledge exists
on nangtens as there are no
proper documentations.
“Different ideas were
proposed to deal with the
issues of vandalism like
covering the nangtens with
cement and iron but due
to humidity the nangtens
are prone to decay and
nangtens are the main
essence of a chorten,” said
the Chief Architect.
In 2015, 48 chortens
were vandalized and three
Lhakhangs burgled.
One of the suggestions
was to install CCTV around
chortens and the other was
to have security guards to
guard the chortens. ‘Both
are likely to be possible,”
said Nagtsho Dorji.
Although the police did
not reveal exact figures of
vandalized chortens, a total
of 2,684 chortens across
the country were proposed
for renovation, of which
1,631 have already been
renovated. The remaining
chortens would be
renovated by mid of January
this year.
Trashigang dzongkhag
had proposed the highest
number of chortens
for renovation with 847
chortens, of which 827
chortens have already been
renovated. Mongar and
Lhuntse proposed 485 and
172 chortens for renovation
respectively. 175 chortens
have been renovated in
Mongar so far while all
chortens in Lhuntse have
been renovated.
The renovation of
chortens in Zhemgang (50),
Punakha (67), Wangdue
Phodrang (139), Trongsa
(87), Haa (68), Samdrup
Jongkhar (50), Gasa (110)
and Chukha (36), has not
started yet.
The Assistant Architect
of Division for Conservation
of Heritage Sites,
Department of Culture,
Sangay Kinga, said the
renovation work could not
be started because of lack of
finance.
Renovation works on
chortens started following
prime minister’s order in 11
November 2014.
Rongthong Dairy Group doing tidy business
The dairy group has seen a rise in members with only 12 in 2012 to 32 as of 2015
Tshering Dorji
from Trashigang
Rongthung dairy group
is one of the several
cooperatives in Trashigang
that is doing pretty well
since its inception three
years back.
The dairy group has
seen a rise in members with
only 12 in 2012 to 32 as of
2015.
The group which usually
supplies milk to Kanglung
residents is running
successfully, according
to the chairperson of the
Rongthung dairy group,
Sangtu.
He said that the group
has plans to supply milk
to Trashigang and expand
to nearby places when it
generates more income and
the right marketing ploys
are in place. Right now,
limited supply of milk is
hampering the business.
The dairy group collects
about 80l of milk during
winter and in summer he
collects about 120l to 130l
of milk and supplies it to his
customers in Kanglung.
In winter, the number of
customers decreases as most
of them comprise Sherubtse
students and lecturers who
go home on vacation so
he also makes butter and
cheese from surplus milk.
Sangtu said that the
dairy group maintains high
levels of hygiene in their
working place.
“The regional livestock
official in Kanglung visits
our dairy group office to
check the standards of milk;
they also check on the cattle
thrice a year.”
He feels that the
government has helped
the group members a
lot in their efforts but
to encourage more
people to do such kind of
business, the government
should provide additional
incentives like financial
assistance.
“Initiatives like this will
help curtail rural to urban
migration” Sangtu said
adding that to sustain the
business the members are
collecting a seed amount of
Nu. 150 annually.
However, Rongthung
dairy group is in need of a
well-secured building for
their operations as it has
suffered several cases of
robbery.
The dairy group pays
Nu.28 per liter while
collecting milk and sells
it at Nu.40 per liter. Nu.1
per liter is set aside for
the group as contribution
fees and the rest of the
profit makes up the
salaries for the workers
and chairperson while
also contributing to
maintenance charges.
market, Stock
& weather
Business
Bhutan
january 16, ‘16
STOCK indexes
weather forecast
Trading days - Mon | Wed | Fri
21 Listed Companies as on 15th Januaary 2016
16th January 2016
SYMBOL
O
H
L
C
V
BBPL
10
10
10
10
1000
BCCL
75
75
75
75
300
BFAL
60
60
60
60
0
BNBL
29
29
29
29
2520
BPCL
10
10
10
10
0
BTCL
40
40
40
40
3200
DFAL
24
24
24
24
7000
DPNB
20.61
22
20.5
20.5
4940
DPOP
20
20
20
20
0
DSCL
30
30
30
30
0
DWAL
38
38
38
38
10000
EBCC
40
40
40
40
1000
JMCL
71
71
71
71
450
KCL
12
12
12
12
4320
PCAL
57
60
60
60
1500
RICB
37.6
40
40
40
7500
STCB
20
17.2
17.2
17.2
85500
TBL
13
14
14
14
410
BIL
21.75
22
22
22
13680
DPL
19
19
19
19
330
GBRL
12
12
12
12
5000
BBPLBCCLBFALBNBLBPCLBTCLDFAL-
Bhutan Board Products Limited
Bhutan Carbide & Chemicals Limited
Bhutan Ferro Alloys Limited
Bhutan National Bank Limited
Bhutan Polymers Company Limited
Bhutan Tourism Corporation Limited
Druk Ferro Alloys Limited
DPNBDPOPDWALEBBCJMCLKCLPCAL-
Druk PNB Bank Limited
Druk Plaster And Chemicals Limited
Druk Wang Alloys Limited
S.D. Eastern Bhutan Coal Company Limited
Jigme Mining Corporation Limited
Kuensel Corporation Limited
Penden Cement Authority Limited
OHLC (O-Open | H- High | L- Low | C- Close | V- Vol)
DSCLRICBLSTCBLTBLBILDPLGBRL-
Druk Satair Corporation Limited
Royal Insurance Corporation of Bhutan Limited
State Trading Corporation of Bhutan Limited
T Bank Limited
Bhutan Insurance Limited
Dungsam Polymers Limited
GIC-Bhutan Re Limited
SOURCE: ROYAL SECURITIES EXCHANGE OF BHUTAN
p18
Thimphu
Max: 16 °C
Min: -1 °C
Chhukha
Max: 15 °C
Min: 4 °C
Paro
Max: 12 °C
Min: -2 °C
Trashigang
Max: 18 °C
Min: 5 °C
Haa
Max: 11 °C
Min: -6 °C
Monggar
Max: 17 °C
Min: 6 °C
Gasa
Max: 10 °C
Min: -5 °C
T/Yangtse
Max: 15 °C
Min: 2 °C
Bumthang
Max: 12 °C
Min: -3 °C
Lhuentse
Max: 21 °C
Min: 8 °C
Trongsa
Max: 14 °C
Min: -1 °C
Sarpang
Max: 23 °C
Min: 12 °C
Wangdue
Max: 19 °C
Min: 4 °C
S/Jongkhar
Max: 20 °C
Min: 9 °C
Punakha
Max: 20 °C
Min: 8 °C
Samtse
Max: 21 °C
Min: 10 °C
Dagana
Max: 14 °C
Min: 2 °C
Pemagatshel
Max: 16 °C
Min: 6 °C
Zhemgang
Max: 13 °C
Min: 5 °C
Phuentsholing
Max: 24 °C
Min: 11 °C
Source: Meteorology Division, DHMS, MoEA,
Hotline : 339673
Local Market Prices
Phuentsholing Auction Prices
Commodity
Unit
Maximum
Minimum
White Potato (Small)
kg
12.70
6.00
Red Potato (Small)
kg
25.95
22.40
White Potato (Medium)
kg
20.00
2.20
Red Potato (Medium)
Kg
23.60
17.60
Potato (White)
kg
7.60
4.20
Potato (Red)
Kg
24.05
22.50
International Prices
Global Commodity Price
Commodity
Unit
Price
Orange
Kg
43.21
Barley
Kg
9.10
Wheat
Kg
13.33
Maize
Kg
12.12
Rice
Kg
26.17
Commodity
Unit
Price
Orange
Kg
24.85
Apple
Kg
50.75
Rice
Kg
20.25
Maize
Kg
14.00
Wheat
Kg
Indian Commodity Price
17.00
SOURCE: DEPARTMENT OF AGRICULTURAL MARKETING AND COOPERATIVES
p19
dealing
nation
Business
Bhutan
january 16, ‘16
from page one
Central bank
region alone followed by
Phuentsholing region (2,
518), Gelephu region (592),
Samdrup Jongkhar region
(234) and Mongar region
(337).
According to the
National Accounts Statistics
2015, the number of
vehicles imported over
the years has gradually
increased from 54, 943
in 2010 to 69, 602 in
2014, registering 26.7%
increase. There was also a
corresponding increase in
the import of fuel. On an
average, fuel import grew by
around 9.19% from 2011 to
2014. Of the total import,
diesel constituted about
80%.
Speaking to Business
Bhutan, RMA Governor
Dasho Penjore said as
everybody, the central
bank is also concerned
over the increasing rate of
import of vehicle since it
will have a huge impact on
the INR reserve as well as
consumption of the general
public.
“It is a mere concern
but it has nothing to do with
policy change,” said the
Governor.
However the RMA is
closely monitoring the
growth in imports and also
watching how the banks are
lending in the transport
sector.
The central bank also
plans to conduct a study on
the impact of increasing
vehicle imports on INR
reserve and based on the
observations from the
study, RMA will impose
some measures if there are
unusual trends.
The RMA Governor
however said it would be
difficult to stop people from
buying cars because it has
become a necessity, unless
the government comes up
with alternative transport
system that is efficient.
“People’s need has to
be met and people’s need
cannot be contained by
fiscal or monetary measures.
In fact it will create more
distortion,” added Dasho
Penjore. “People will buy
any way even if they have to
pay tax.”
Since all the banks
adhere to sector limits,
the central bank hasn’t
seen any reason to impose
policy restrictions. “At the
same time, banks should
be mindful of the debt how much they can lend
in the transport sector and
they should be mindful
of default cases in the
transport sector,” said the
Governor.
He added that the
central bank is letting the
banks function on their
own and make their own
prudent judgment on how
much they should lend
and how much they should
invest in the portfolio. “As
long as banks are giving
loans to purchase Indian
cars, there is no question of
not availing rupee. We have
to provide rupees since we
have free trade agreement
with India,” said Dasho
Penjore.
Last year, the banks gave
out a substantial amount
of transport loans. Bhutan
National Bank (BNB)
sanctioned vehicle loans for
heavy, light, and commercial
vehicles for 954 accounts
worth Nu 483M last year.
In 2014, Bank of
Bhutan (BoB) financed
transport loans for noncommercial vehicles for 30
accounts worth around Nu
20.5M in 2014.
Similarly for 25
commercial vehicle loans
amounting to Nu 51M
and 20 vehicle loans to
government employee
amounting to Nu 5.9M
were sanctioned in 2014.
From January till March
last year, BoB financed
transport loans for noncommercial vehicle for 15
accounts amounting to Nu
6mn. BoB sanctioned three
commercial vehicle loans
amounting to Nu 2.5M and
Nu 8.8M vehicle loans to 14
government employees.
The Chief Executive
Officer of Druk Punjab
National Bank, Mr. Mukesh
Dave, said last year the
bank financed only about
six to seven transport
loans. “We do not sanction
transport loans of quota for
the third party,” he said.
He refused to reveal the
figures.
Bhutan Development
Bank Limited financed Nu
486M worth of transport
loans to 1,277 accounts
while T-Bank financed Nu
48.53M worth of loans to 87
accounts last year.
the common forum for
the upcoming thromde
elections as expected.
“We have been
conducting awareness
programs like voter
education programs to
inform people. It is their
duty as well as their right
to come and participate for
the larger interest of the
nation,” he said.
However, Sonam Tobgay
said people will come to
vote during the poll day
because they feel it will have
repercussions at the end of
the day.
The President of Bhutan
Kuen-Nyam party, Sonam
Tobgay, said low voter
turnout for the common
forum may result in people
voting for less competent
candidates.
However, he said
understanding elections is
uncertain and most prefer
to remain non-committal.
“The Thimphu
Thrompon election can
be made more exciting if
the municipal authority is
granted more autonomy
in the area of fiscal sources
and volumes of proceeds
but other thromdes have a
very low tax base and will be
centrally driven,” he said.
A media consultant
feels that during the local
government elections in
2011, voters attributed less
significance to the local
government elections
as compared with the
parliamentary elections and
this could be the reason for
low voter turnout.
There are more
players in terms of political
candidates and supporters
for the parliamentary
elections so naturally,
it draws more people
participation as opposed to
a lone thrompon or thuemi
candidate and a handful of
supporters they attract.
However, some feel
election apathy could be
exclusive to Thimphu since
the incumbent is seen as
a strong contender likely
to beat the polls. News is
already out in places like
Bumthang that there are a
good number of aspiring
thrompon candidates
coming forward for the
elections to be held in the
coming months.
Seeing that Bhutanese
women voter participation
and representation in
political bodies has always
been comparatively lower
to men, the Director of
Bhutan Networking for
Empowering Women,
Phuntshok Chhoden, said
women make up 50-51%
of the population but
their representation in the
highest decision making
bodies in the country
is extremely low at the
moment.
In the Parliament
of Bhutan, there are six
women representatives and
only four of them were
elected by the people of
Bhutan. Likewise, in the
2011 Local Government
election, only one female
Gup or Chairperson was
elected alongside 204 male
Gups.
The overall
representation of
women in LGs stands at
7%(104/1,454).
Phuntshok Chhoden
feels leadership roles have
always been played by
men and society is used to
it. “Women have always
stayed home and been the
homemaker and never
launched themselves in
the public arena either
as active participants or
as leaders. With time and
experience, men have
gleaned the required
knowledge, skills and
confidence which women
lack especially confidence
which holds them back
from participating to gain
the necessary skills and
knowledge!,” she said.
Prevailing mindsets are
also such that people have
less confidence and faith
in women which further
discourages women with
low self image from coming
forward. Combined with
low literacy levels among
women, limited mobility,
poor exposure and heavy
work burden due to the
reproductive and domestic
responsibilities, women are
handicapped as compared
to men.
“Through concerted
efforts of everyone to
educate, empower, nurture
and groom women to take
on leadership roles in
society, changes will take
place,” she said.
Panbang MP Dorji
Wangdi said, “the Election
Commission should
strategize better and work
harder to enthuse the
public for better public
participation”.
from page one
poor voter turnout
which is 50.76% of the total
registered voters.
For tshogpas, the total
registered voters were 7,137
and the voter turnout was
3,630; 50.8% of the total
registered voters.
Officiating Director
for the Department of
Electoral Registration
and Delimitation, Sonam
Tobgay, said the reason for
the low public participation
could be voter apathy.
He said voters feel
that they do not have
direct benefits from the
whole electoral process
and therefore they are
disinterested. “We are
also facing financial
challenges. We are not
getting enough budget
from the government
for voter education. The
government feels it is not
very important to stress
on voter education,” said
Sonam Tobgay.
However, he said it is the
people’s right to vote and
attend common forums.
He also said that despite
their communication to the
general public, somehow
people did not turn up for
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Changing forex reserve from US Dollars to INR?

Transcription

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