The hydropower sector will provide 64,000 jobs for Bhutanese by the end of the decade Jobless youth hanging out in the dark alleys of the capital: this is an image the media loves to portray about the odd 13,000 unemployed people in Bhutan. But the flip side of the apparent grim job scenario is the thousands of jobs the government plans to generate by 2020. The prime minister had announced 75,000 jobs just in the tourism sector. Last week, talking... (more...)
No country can afford to ignore the lessons of the Chilean and Haitian earthquakes. We cannot stop such disasters from happening. But we can dramatically reduce their impact, if we act in advance. I visited Chile’s earthquake zone and saw how countless lives were saved because Chile’s leaders had learned from past lessons and heeded the warnings of future crises. Stringent earthquake building codes were enforced preventing mass casualties. Training... (more...)
a flower for the king One morning a seven-year-old student of Sunshine Private School asked his grandmother for a flower to take to school which he said he wanted to present to the king. He came back that afternoon looking dejected and said the king was coming only the next day. Next morning he took another fresh flower for the king. When he returned home that day, he had a big smile on his face. He told his grandmother how the king picked him out... (more...)
New local ‘hydropowered’ institutions will train Bhutanese to work in power projects With some major hydropower plants under construction and several others in the offing, the government has decided to establish institutes to train Bhutanese job seekers to work in hydropower plants. The decision comes in the wake of Bhutan’s pledge to export 10,000 MW of power to India by 2020. The new institutes are also expected to create a lot of employment... (more...)
The total estimated budget outlay for the present 2009-10 fiscal was kept at Nu 26.3b, which is about 38% of the Gross Domestic Product (GDP). It is expected to create an overall fiscal deficit of about Nu 4.8b equal to 6.9% of the GDP. It is Nu 3.2b higher than the revised budget of the earlier fiscal. To cover the deficit, a net external borrowing of Nu 304.9m is expected in the fiscal. Bhutan is expected to borrow from the World Bank and the Asian... (more...)
Following the fire accident that razed down parts of the Amankora resort in the capital late Thursday, the Bhutan Insurance Limited (BIL) has the biggest private fire insurance claim on its table. The high-end tourist resort which has served Hollywood actors like Cameron Diaz and insured for Nu 250m was left with no kitchen and dining space. Everything in the top class kitchen was destroyed, including crockery worth a fortune in one of the most expensive... (more...)
The banks must float their IPOs one month after their operation begins but even after two months there is no sign of Druk PNB floating its shares Two-month-old Druk PNB and the latest T bank have been sent letters from the central bank to float its initial public offer (IPO) “as soon as possible” to the general public. The letters were issued as a notice to the banks to acknowledge the promises they made while obtaining licenses,” said Eden... (more...)
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