business bhutan | nations only financial newspaper

Green initiatives to dictate energy sector Bhutan’s self imposed target to remain carbon neutral for all times to come will dictate its rigorous pursuit of exploiting energy sources, hydropower and other energy renewable energy, to make all upcoming energy projects green. The economic affairs minister, Lyonpo Khandu Wangchuk, said, “The EDP will diversify the economic base with minimal ecological footprint,” adding that Bhutan will not compromise... (more...)

In line with global practices, Bhutan is planning to introduce a better alternative to the Bhutan Sales Tax by replacing it with Value Added Tax The government is planning to replace the traditional sales tax, called the Bhutan sales tax (BST), with a better and more efficient taxation model, the Value Added Tax (VAT) system. “VAT is increasingly been seen as a better alternative to the sales tax,” said the finance secretary, Lam Dorji. He said... (more...)

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...)

It’s wonderful to know that tariff liberalization did not happen. The wisdom of our elders is still warm and that makes Bhutan unique. Our gratitude goes to the cabinet’s decision.  Till date the role of a coordinator in tourism has been played by the tour operators. It should never be tour operators’ job but it happened. This coordinator thing should be with the authority appointed by the government. But then we only saw the coordinator’s... (more...)