Dungsam: Dungsam Cement’s production may pick up now with the biggest cement consumer in hydropower construction, Larsen and Toubro (LNT) agreeing to procure the Dragon cement.
Earlier, it was learnt that Dungsam cement supplied about 20 percent of the total cement requirement for the hydropower construction, with LNT refusing to procure Bhutanese cement, even though Dungsam cement could easily meet both the demand and standards at a competitive price.
Pact expected to expand trade and economic exchanges between four countries
Trade: A Bhutanese commercial truck should be able to transport locally grown fruits all the way to Dhaka and bring back goods like clothes starting some time next year, following the signing of the Bangladesh, Bhutan, India, and Nepal Motor Vehicle Agreement (BBIN MVA) in Thimphu, yesterday.
While it was agreed among the transport ministers of the four countries that the BBIN MVA should be implemented in six months rather than 12, its operationalisation will depend on when it is ratified by respective cabinets or parliaments. Implementation is scheduled to begin by October, this year.
Bilateral or trilateral agreements will also have to be made between the four countries which will specify details on, for instance, the quantity of commercial or private vehicles that will be allowed into Bhutan on a reciprocal basis, entry and exit points, routes, types of permits that will be required, customs related issues, and fees, among others.
National Assembly endorses amendment proposed by National Council
Parliament: Commissioners and members of constitutional offices may be reappointed for a maximum second term but they will have to resign from the civil service on their appointment.
This is in line with the Entitlement and Service Conditions Act for the holders, members and commissioners of constitutional office of Bhutan (amendment) bill 2014 that the National Assembly endorsed yesterday.
Public sector companies suffer as a result of competition from the private sector
DHI: When faced with competition from the private sector, it’s difficult for public sector companies to perform, the Druk Holding and Investment’s (DHI) chairman, Dasho Sangay Khandu, said, referring to Bhutan Telecom and Drukair.
Except for Bhutan Power corporation, Bhutan Telecom and the Bank of Bhutan, the rest of DHI-owned companies recorded a decline in profit last year. Drukair and Dungsam Cement suffered losses.
We have a tendency to go wild and turn ourselves into animals whenever we have big games and competitions. Let it not be this day.
At 6pm today, we face a formidable foe. Our national football team will play China at Changlimithang Stadium in Thimphu. Road to Russia will not be easy for us. We knew that from the beginning.
The grant amount of USD 16.1M will be released by this year
Agreement: The Asian Development Bank (ADB) will release USD 36.2M (million) to strengthen the Bhutanese economy in the fiscal year 2015-16.
Finance minister Namgay Dorji and ADB vice president Wencai Zhang signed the agreement towards that end in Thimphu yesterday afternoon.
On the sidelines of the Meeting of BBIN Transport Ministers, the transport ministers of Bangladesh, India and Nepal jointly called on Lyonchoen Tshering Tobgay in Thimphu yesterday.
Roads: Although expected to commence last month, road widening works on the 49km Trashigang (Kheri)-Yadhi highway kicked off yesterday from the zero point at Yadhi.
Project DANTAK started work on the first 12.9km segment of the stretch from Yadhi towards Trashigang. A budget of Nu 339.6M (million) has been approved.
Commander N Balamurugan said work didn’t commence as expected because they were setting up a new road construction company (64 RCC) at Kanglung to monitor the activities.
There is an air of optimism about Team Bhutan, grounded by realism
Football: Although China is a strong team in Asia, the head coach of team Bhutan, Norio Tsukitate, at a press conference in Thimphu yesterday, said he had strategies to overcome them in the match.
The coach refused to share his strategies, but said that each player would play their best football as a team. Coach Norio said that the Chinese had a first-class strategic coach, but he said he wasn’t deterred. “I know how to move the Chinese players,” coach Norio said.
While the government’s investment arm’s dividend decreased, its tax contribution increased
Business: Although the Druk Holding and Investments’ (DHI) contribution to the government coffer in the form of dividend and taxes increased by Nu 220M to Nu 5.35B last year, many of its cash cow companies’ did not perform well.
Dividend has declined from Nu 3.76B in 2013 to Nu 3.69B last year and corporate income tax increased to Nu 1.66B from Nu 1.36B.