PM says hydro power and solar energy investments are made for generating foreign currency

PM says hydro power and solar energy investments are made for generating foreign currency

During the question and answer session of the 9th session of the Third Parliament on June 13, National Assembly (NA) Member of Parliament (MP), Passang Dorji (Ph.D) of Bartsham-Shongphu constituency, Trashigang questioned the Prime Minister (PM), Dr Lotay Tshering regarding the economic recovery strategies that the government is putting in place.

The MP shared that as per the Finance minister Namgay Dorji, the country is not fundamentally structure and questioned the PM on what the government is doing on to make the country fundamentally structured in the short term, medium term and long term period. The MP said that currently the country is still facing unemployment crisis and inflation as it does not mean the country is moving smoothly. The MP questioned on what the government is doing to revive such challenges.

In response, the PM said that, the country being an import oriented, faces difficulties as it depends highly on import. Moreover, the country has been witnessing inflation.

“Moreover, the country is sandwich between India and China which has even made it very difficult as our country is not able to compete with them in the export oriented products,” PM said, adding that, as a small country we will have to be more innovative to develop.

Concerning unemployment, the PM shared with the house that the government has been providing re-skilling and up-skilling.

The PM said that aside from what the government is doing, they are also focusing on big investment in hydro power and solar power in order to attract foreign currency.

Meanwhile, the PM said, “Druk Green Power Corporation (DGPC) owns 100% shares of Kholongchhu hydro power, the work of the three small hydro powers has started and the government has planed 4 new small hydro powers and big hydro power. Work is under way.”   

“With such work in progress in hydro power, we need the investment in the foreign currency which will make it easier for the trade in the country,” the PM said, adding that, more over Bhutan will need more convertible currency and focus on means to attract it.  

Sherab Dorji from Thimphu