While the government has sufficient budget for capital expenditure, there is a concern regarding the recurrent expenditure as the government has proposed major changes in the Financial Year (FY) 2020-2021 annual budget since revenue generating sectors are being affected by the pandemic. During the meet the press session on Friday, finance minister Namgay Tshering said […]
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Now entrepreneurs and start-ups can sell their products online and get online payment from international cardholders. To promote and the use of digital payments and to reap the advantage of digital economy, the Royal Monetary Authority (RMA), in collaboration with the banks has initiated the international payment gateway (IPG) facility. The facility can accept payments […]
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Like the rest of the businesses in the country facing loss after COVID19, gold and silver dealers are also having a hard time running their business. Sanju Saily, a gold and silver goods retailer near the traffic area said the number of customers has decreased drastically after the COVID-19 pandemic. Nevertheless, he has to run […]
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The once bustling handicraft and fast food market at the base of Taktsang Monastery at Paro is seeing just a trickle of vendors and customers after the COVID-19 was confirmed in the past weeks. The businesses include vendors who sell walking sticks, handicraft products and jewelry. Fast food business had also been soaring in the […]
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Bhutan National Bank (BNB) launched its bank agent called BNB Ngotshab, a first of its kind in collaboration with a corporation, Bhutan Post. BNB launched Ngotshab in coordination with Bhutan Post since its offices and outlets are available in almost every corner in the country. Chief Operations Officer of BNB, Hem Kumar Acharya said that […]
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Bhutan National Bank’s (BNB) profit in 2019 was around Nu 62mn. In 2018 the bank recorded profit of around Nu 736mn. This is a drastic decrease of 91.5% in profit from last year. The Chief Executive officer of BNB, Sonam Tobgay said that the reason for the plunge in profit is high provision. Provision, a […]
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The government has allocated Nu 15bn for the nine flagship programs in the flagship resources outlay for a year of which Nu 8.6bn has been mobilized and Nu 6.4bn is the resource gap till date. The outlay was presented by the Gross National Happiness Commission (GNHC) officials to the Prime Minister on Thursday. A GNHC […]
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In a world of fast everything driven by technology and modernization, an entrepreneur has innovated an online marketing and advertising platform on Facebook. PandoraBiz.com, launched by Sandeep Rai Chamling on January 1, 2020 is a marketing and advertising agent that helps business owners within and outside the country to advertise and promote locally and internationally. […]
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The overall expenditure for the 11th FYP was Nu 0.247bn of which the total current expenditure was Nu 0.115bn. Capital expenditure accounted for Nu 0.108bn, according to the review report on implementation of the 11th five year plan. The report also states that Nu .001bn was for lending and Nu 0.23bn for repayment of loans. […]
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Micro-finance institutions (MFIs) in the country have no policy objectives although there are rules and regulations governing operations of institutions and no clear linkage between microcredit distribution and poverty incidences. According to the performance audit report of the Royal Audit Authority (RAA) on microfinancing findings pointed out there are only about 5% of total loans […]
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