Sangay Gyaltsen, The former NRDCL MD The former NRDCL MD and main accused in the multi-million-ngultrum Samtse Mining Case in an exclusive with Business Bhutan As the impatient car horns heard from outside main town Thimphu signalled the end of another working day, an embattled Sangay Gyaltsen calmly stretched out for another doma with a strong dash of lime. Despite a breeze that swept the evening bustle into this two-room law firm, the main accused... (more...)
The Royal Insurance Corporation of Bhutan Ltd. (RICBL) has moved its head office from Phuentsholing to Thimphu recently in a move seen as to fight competition from the new private insurance firm and to strength its corporate identity. Now with Thimphu becoming the hub of activities and the urban population becoming more conscious of insurance benefits, RIBCL authorities felt that having the headquarters at a place as far away as Phuentsholing was... (more...)
The bold commitment taken by Bhutan to export 10,000MW of power to India by 2020 has stretched the external debt situation despite claims that the debt is self financing in nature. As of June end last year, Bhutan’s outstanding debt to India taken for hydropower projects in the country was Nu 17.32b, which accounted to a massive 32% of the gross domestic product (GDP). The figure is much higher than the total internal revenue for the 2007-08 fiscal... (more...)
Phurba D Dorji from Thimphu A Bhutanese consumer is often left in the lurch after buying a product and finding that he has been duped. It may no longer happen once the Consumer Protection Act is in place. The Bill is expected to be tabled for endorsement in the upcoming summer session of the parliament. If approved, the Consumer Protection Act will set standards for protecting the interest of consumers, ensure better products and services and facilitate... (more...)
In a major move to bring small businesses on the priority list which could probably change business dynamics in the country, the economic affairs ministry will soon have a new department for small and cottage industries. The cabinet approved the new department on Tuesday which would look after a sector that comprises 98% of the business sector. The micro, small, and medium-sized enterprises (MSME) include various rural and urban enterprises, cottage... (more...)
Bhutan was exempted from the ban during the global food crisis in 2008 India, sitting on a huge stockpile of grains, will soon discuss lifting a ban on exports of wheat and common grades of rice, the farm minister said on Thursday. Sharad Pawar told reporters a panel of ministers headed by Finance Minister Pranab Mukherjee would meet next week to discuss the issue as the country has the ability to export grains. “This will be discussed in the next... (more...)
Officials from Bangladesh, India, Nepal and Bhutan may meet soon to chalk out plans for closer regional connectivity following an understanding reached between Dhaka and New Delhi. Direct transport services would allow movement of people and goods into each others’ markets. This was discussed when the Bangladesh Prime Minister Sheikh Hasina was in New Delhi in January. “Such a meeting can pave the way for understanding and working out a modality... (more...)
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