In the backdrop of financial institutions freezing loans due to the rupee crunch, private money lending has become a thriving business in the country though the procedures are illegal. This business is also rampant mostly in gambling dens. There are money lenders thriving on the spending sprees of gamblers, said …
Read More »RMA partially loosens its grip on rupee payments
The Royal Monetary Authority (RMA), at a meeting with the private sector yesterday, announced a host of changes to its earlier circular on the issuance of Indian rupee (INR). One of the major changes was instructions to the private sector to open a rupee account for every manufacturing industry …
Read More »(Draft renewable energy policy) Pvt Sector can now own hydro projects
This is a key policy change as earlier private sector investment and FDI was not allowed in the hydropower sector. In a departure from its past policy the government will now allow Private firms to construct, own and operate small hydro power projects. This is as per the latest …
Read More »Worries ‘loom’ large in Radhi as weavers await promised equipment
Tshering Chonzom, head of the Radhi weavers group, saw the Dorjibi weaving center in Bumthang on BBS TV and wondered why she was still waiting. Today she is in Thimphu (again), seeking funds for her own geog’s weaving center, whose growth, so far, has been rickety at best. “I am …
Read More »Commission Raj in health ministry exposed
The faces of the people involved in the health ministry corruption cases are being revealed now. Of the many to follow in different cases, the first names include a joint director, an accountant and a dentist Of the eleven cases forwarded by the Anti Corruption Commission (ACC) against the Ministry …
Read More »A bridge over a stream delays Education City boundary works
The Department of Roads (DoR) will soon start boundary works for the proposed Education City even while the project is still in its infancy and has not seen any serious interest from developers. Apart from the boundary works, the developer has to bear the costs for technical designing, survey and …
Read More »Plans to commercialize dairy farming still on paper
After the formation of a jersey group in this gewog, villagers were told milk would be collected from houses for sale, creating a good economic opportunity. Sixteen households joined the group and each member has a jersey cow or two. The members were given a loan of Nu 50,000 to …
Read More »In Gasa, community forests mean business
The sum of Nu 21, 240 may not sound big these days. But for the members of Genrab Cithuen Community Forest (CF) in Khame gewog, Gasa dzongkhag, it is a fortune, after they earned the amount from the sale of non-wood forest products, the highest generated from any community forest …
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