Much to the delight of those waiting to construct house and buy new vehicles, the central bank has decided to lift restrictions on both housing loans and import of cars.
The restrictions, which initially started as a temporary measure will be in place for exactly two years, when parliamentarians meet to discuss it in the summer session of the Parliament.
However, the restrictions will be lifted on the condition that fiscal measures are put in place keeping [... Read More]
Having been known only for cultural tourism, tour operators and tourism authority were pressed for seeking an alternative to keep the industry going.
It was only during times of festivals, as continues to be the trend even today, that tourism flourished.
For the rest of the months, most tour operators were dormant.
The need to diversify the business, especially in terms of attracting tourists during lean periods was greatly felt.
That was when the long conceived idea of eco-tourism [... Read More]
There were not many locals at the Paro dzong courtyard yesterday where the annual tsechu is going on.
Like one Thimphu resident who returned after the first day said, there were just as many locals as there were tourists.
This is not a trend isolated to Paro alone, but one that has been noticed in many other festivals across the country, more so in dzongkhags surrounding the capital city.
Local festivals, especially tsechus, besides being a religious event [... Read More]
Much has been achieved in the country’s efforts towards fighting corruption, yet much remains to be done.
In less than a decade since the Anti-Corruption Commission (ACC) was established, many incidents of dishonest and fraudulent conducts, especially in terms of misuse of public money, by those in power including their subordinates, were exposed, charged and taken to task.
The embarrassment that brought those involved in corrupt practices, to an extent, acted as a deterrent initially, so much [... Read More]
The thrills and spills of economy is now upon us as the government injects 2.1 billion into the financial institutions to stimulate the country’s economy that’s not at all in a good shape.
Even as the country’s economy slowed down to the extent that tough measures had to be taken, like stopping the housing loan to reduce Rupee outflow, our banks have excess money – Nu 13 billion altogether. That’s the total money our banks have [... Read More]
With misappropriation, embezzlement and corruption cases frequently making headlines, our society may not be shocked nor are they disturbed when misappropriation of government funds are reported.
But when government officials are involved in robbing the public that they are supposed to help, it is disturbing. And it can be more disturbing when people in distress are robbed of what they are entitled to recover from disasters.
The Anti-Corruption Commission is on a case where dzongkhag and local [... Read More]
There are eyebrows raised even as the Office of the Attorney General prosecute the 13 people, which include bank officials, alleged for illegally repatriating Indian Rupee to the tune of millions.
Scandals always excite the public, but when it involves bank or bank officials, there are reasons to worry. The case was detected recently and by the time the Anti Corruption Commission (ACC) who stumbled upon it while investigating an immigration case, about INR 70M was [... Read More]
The news from Gaselo Higher Secondary School in Wangdue is no good news. The report puts the education sector on the limelight yet again. Schools, not just in the rural areas but also in the urban centres, are calling urgently for attention.
Education being one of the biggest sectors, the education ministry has had always to face shortage of teachers against rising number of schools and students. We need only to hark back to the times [... Read More]
With the Mongar district court asking about a dozen building owners in Gyalpoizhing to forfeit their buildings, the owners are feeling aggrieved.
The building owners will appeal, some say they are already planning to.
We can understand their grievances- not because forfeiting property to the state is painful and embarrassing, but because of reasons leading to the forfeiture, if ever they do.
They claim that they are bearing the brunt of a mistake, which was not theirs. They [... Read More]
At the meet the press session yesterday, the members of the Cabinet, four of them to be precise that forms the executive arm of the government were of the view the Pay Commission’s report was best left veiled.
Away from the media’s glare, they said the contents of the report would be unsullied from the subsequent media analysis, followed by disparate points of views that emerged from the public that eventually led to unnecessary speculations.
It was [... Read More]