More than Nu 43mn collected by judiciary

A total of Nu 43.91mn was collected by the judiciary across the country in 2017 through court fees, thrimthue, fines and penalties. Of the total, the highest was collected from Thimphu Dzongkhag Court with Nu 8.14mn, followed by Chhukha Dzongkhag Court with Nu 7.86mn and Phuentsholing Dungkhag Court with Nu 7.69mn. Gelephu Dungkhag Court saw […]

Gelephu Industrial Service Center operational

The newly identified Industrial Service Center (ISC) in Gelephu has started doling out services with small scale industries and a few automobile workshops having had already begun beginning this year. Services like fabrication and others are also expected to come up soon. Gelephu Thromde, meanwhile, has also completed installing basic facilities like access roads, electricity […]

RMA revises MLR third time

The Royal Monetary Authority (RMA) revised the single Minimum Lending Rate (MLR) from 6.51% to 6.52% in December last year. A circular from RMA states that the central bank has revised the MLR from 6.51% as of June 2017 to 6.52% in December 2017. This revised MLR will remain effective for the next six months […]

Asst. BDBL branch manager allegedly embezzles Nu 3.8mn

The assistant branch manager of Bhutan Development Bank Limited (BDBL) in Pemagatshel is found to have allegedly embezzled more than Nu 3.8mn by forging documents in the name of eight individuals by the Anti-Corruption Commission (ACC). The bank had reported the issue to the Pemagatshel police on July 17, 2017 and the case was later […]

FDI makes tax contribution of Nu 1.58bn

The Foreign Direct Investment (FDI) made a total tax contribution of Nu 1.58bn for 2016. This constituted 7.23% of the tax revenue and 5.3% of the total revenue of the government in 2016. According to the FDI annual report 2017, as of December 2016, there were a total of 54 projects approved of which 32 […]

Row over security arrangements at PM’s residence continues

While Prime Minister Dasho Tshering Tobgay maintained that the entire expenses of the security arrangements at his residence in Taba were already reimbursed, the opposition party lashed out at the government for its earlier justifications. In a two-page press release Druk Phuensum Tshogpa (DPT) issued yesterday, it asked if the PM had voluntarily refunded, then […]