Trade deficit reaches almost Nu 21.2bn

Figures, however, show that the country’s trade balance began deteriorating from 2013 The country’s trade deficit in the second quarter between April to June this year, including trade in electricity, is estimated at around Nu 21.2bn, of which the balance of trade with India alone accounts for more than Nu 12bn in the red. The […]

Banks and private sector yet to come to consensus over monetary measures

Additionally, soft loans for hotels in the east were also requested The second round of discussion about the fourth phase of monetary measures between the Financial Institutions (FIs) and the private sector concluded on July 18, with the government mediating between the two. The focus of the second round of discussion was on the private […]

Indian tour operators find monument fees high

The new monument fees and the SDF cannot be calculated only in terms of economic value, according to the media spokesperson of TCB, Damcho Rinzin Many Indian tour operators are finding the recently revised fees for monuments and sacred sites for all tourists beginning from July 15 this year high. They were expecting that the […]

No provision for deferring NPLs

Finance Minister Namgay Tshering says there will be flexibility if the country’s economy improves Financial Institutions (FIs) will not provide further deferment of Non-Performing Loans (NPLs) as it would be a great risk to the economy of the country with high NPLs in the future. This was informed by the chairman of the Financial Institutions […]

Request made for approval of third-party collateral, working capital, and loans deferment

The chairman of FIAB, however, claimed that financial institutes must abide by the rules and policies The president of the Construction Association of Bhutan (CAB), Trashi Wangyel proposed and requested three clarifications from the Financial Service Providers (FSPs) during the second round of discussion held on July 18 between the private sector and the chief […]

‘In the interest of serving people through politics’

Namgay, who was introduced by the Druk Phuensum Tshogpa (DPT) as its Tashicholing candidate for the 2023 elections on June 14, talks to Business Bhutan’s reporter Sangay Rabten about joining politics, choosing the DPT, and development plans in his constituency. Q: Can you tell us something about yourself, your background, and your qualification? Ans: I […]

Govt. to discuss Kholongchhu project with India’s power ministry

The way forward for the Kholongchhu project will be different, according to Lyonpo Loknath Sharma With the Joint Venture (JV) model of the Kholongchhu project in Trashiyangtse being closed and the project put on hold by the government, secretaries of the Ministry of Power (MoP) from India will visit Bhutan to discuss the project. The […]

Food import value almost four-fold that of export

There has been almost Nu 7.9bn worth of food deficit in 2021 As the country imported food commodities thrice the value of exports, the food deficit widened by Nu 7.9bn last year, according to the trade statistics of the Renewable Natural Resources (RNR). Bhutan imported food commodities worth Nu 11.02bn last year and exported goods […]

Prevention first!

Time and again, we come across stories of atrocities against children and women that question whether we are going wrong somewhere. Stories that question the humanity in us. The latest unfortunate incident is that of the alleged rape of an eight-year-old girl in Wangdue, where a 22-year-old man was arrested in connection to the case […]

Bhutanese importers feel the heat as Nu depreciates by over 7%

The value of one USD has hit an all-time high of Nu 81.20 today Bhutanese importers of commodities, chemicals, electrical machinery, and vehicles from third countries have been hit hard following a sharp depreciation of the Ngultrum (Nu) against the US dollar this year. This is because the Nu and the Indian rupee today hit […]