Banking on our banks

Posted inEconomy
Our banks continue to make generous profits. Last year, BNB made Nu 310 million, a whopping 124% over the previous year, and BOB made Nu 168 (see Kuensel article). Not bad, considering the size of our economy. And, considering that they’ve been consistently declaring very attractive dividends.How do banks make money? Primarily by paying depositors a certain interest rate, and charging borrowers a higher interest rate. And obviously, the larger the spread between the two rates, the bigger the profit that banks earn. But what about bad loans, loans that banks cannot recover? That’s the risk that banks take,…

Mobile banking

Posted inEconomy
Wouldn’t you be happy if you could get your bank balance on your cell phone instead of having to go all the way to the bank?Wouldn’t it be good if you could instruct your bank not to honour a cheque that you’d issued mistakenly?Wouldn’t you like it if your bank informed you every time money was withdrawn from or deposited to your account?And wouldn’t it be convenient if your bank reminded you when loan repayments were due?All this, and more, are available with the BNB’s mobile banking service which was launched yesterday. I’m excited about this new service, so…

Educating doctors

Posted inEducation, Government
On 23rd March, the Ministry of Education announced rules on the recently approved medical scholarship grants (see the rules). The rules clarified how the government will implement the grants. But we should be concerned at least on two counts.One, on the impact on current private students. According to the rules private students currently studying in universities recognized jointly by RCSC, MOH and MOE in the SAARC region, Thailand and Cuba are eligible to apply for the scholarship. Of them 15 will be awarded the medical grant.Obviously, every private medical student by now expects the grant. And convincing them that…

Doing the work

Posted inNature2 Comments
Regular readers of this blog know that every once in a while I present an issue without making a judgment or giving my views. I just present the facts as I see them.Why do I do this?Firstly, to make us think. Merely raising an issue forces me think much more deeply about it. And I am hopeful that it makes you, the reader, also spend some time reflecting on the issue.Secondly, to solicit your views. Your views are important to me and, I would like to think, to other readers as well. And, by the way, yes, I welcome…

Construction waste

Posted inNature
This afternoon, while travelling to Punakha, I saw garbage dumped below the highway at several places about 10 kilometers from Thimphu. The waste, which was obviously from a construction site, had been transported by truck and dumped in the forest near Memelakha.

The winner takes it all

Posted inDemocracy, Legislature7 Comments
I commemorated the first anniversary of our country’s first general elections by pouring over the election results. And, in doing so, I was reminded of the pain and disappointment on that historic day. I was also reminded of the dangers of our electoral system.Of the 253,012 votes cast, 83,522 were cast in favour of PDP. That works out to a little over 33% of the total votes cast. The rest, that’s about 67%, were cast in favour of DPT.But PDP won only two of the 47 constituencies. That’s barely 4% of the total number of constituencies. So although PDP…

A unique example

Posted inPeople, Political parties
Last year, in Sherubste College, a student asked me: “We’ve been told, many times, that democracy in Bhutan is unique – please tell me how it is unique.”The fact of the matter is that all democracies are based on, more or less, the same principles, and none can claim to be really unique. But, on the other hand, no two democracies are exactly the same, making every democracy, unique in its own way. So to claim that our particular form of democracy is unique, in the way it is structured for example, would not make much sense.But in one…

2nd general convention

Posted inPolitical parties
The PDP held its second general convention yesterday.Despite strong appeals, from every party member, PDP president Lyonpo Sangay Ngedup resigned, taking full “moral responsibility” for the party’s loss in Bhutan’s first general elections.The general convention confirmed the following nominations:President: Tshering TobgayVice Presidents: Damcho Dorji, Ritu Raj Chhettri, Yeshey DorjiSecretary General: Sonam JatshoTreasurer: Namgay DorjiSpokesman: Dr Tandin DorjiThe general convention also approved a new executive board.

PDP general convention

Posted inPolitical parties12 Comments
Tomorrow, 22nd March, PDP will hold its general convention.We anticipate a large turnout. People from every dzongkhag have telephoned to inform us that they’ll be participating in the meeting.The convention is open to all party members. To attend, please be at the RAPA hall by 9:30 AM.

Women warriors

Posted inCivil society, Monarchy, Women
Fourteen villages in my constituency, most of them in Gakiling gewog, do not have electricity. Every night, women in these villages turn their rangthang, a traditional stone mill, grinding buckwheat, maize and millet for several hours in virtual darkness. Working the rangthang is hard work in the best of conditions. But in the dark, by a hearth that offers more smoke than light, grinding food is a lonely and backbreaking exercise. Yet is must be done, for they must feed their families the next day.So yesterday, when 35 women from similar villages across Bhutan announced that, in three months,…

Kajana fire

Posted inVillages
At about 1:30 AM on 14th March, a fire raged through two adjoining houses in Kajana in Haa.The first house belonged to Aum Dema, aged 60. Aum Dema wasn’t home during the fire – she was at her daughter’s house because she didn’t want to spend the night alone. She would have had to spend the night alone because her husband, Ap Passang, was in Danadingkha Goenpa. And Ap Passang was in Danadingkha fighting a forest fire … as a volunteer. He’d volunteered to spend the night in the goenpa to make sure the forest fire didn’t restart.Aum Dema…

Preparing for storms

Posted inNature, Villages
A week ago, strong winds damaged 20 houses in Haa, most of them in Katsho. The storm had blown off most of their roofs.I’m in Haa. And I was delighted to see that most of the houses have already been repaired.Wind storms are not uncommon in Haa. Just last year several houses had been severely damaged, mostly in Samar.In fact, wind storms are not uncommon in most parts of our country. My colleague, Dasho Damcho, is currently in Laya meeting farmers still recovering from the effects of last week’s storm. And, barely a year ago, strong winds swept through…

Opposing the oppostion

Posted inEducation, Government, Media
My last entry made Di demand that the opposition leader oppose the government’s decision directly and firmly. This is what she said: “dear OL, are u not going to say anything to oppose this directly to the cabinet? this is wrong wrong wrong. this goes against every morals, values and ethics we have ever been taught. this is showing us that the people who are incapable and the least deserving get the best in life. It is a mockery to everything we have been taught is right. Do u not have duties and rights, as the opposition leader, to…

A bold scheme

Posted inEducation, Government
Our government’s decision to award grants to private medical students is bold. But it is wrong.It is bold because it shows that our government can take unconventional measures to get things done – in this case to train more doctors.But it is wrong because awarding grants to private medical students will not increase the number of doctors. Current private medical students will graduate and become doctors even if the government doesn’t intervene. So helping them will not add to the pool of doctors.It is wrong because the unexpected grant will benefit current private medical students unfairly. They would enjoy…

Returned rightfully?

Posted inGovernment, Monarchy
On 7 March, BBS reported that: “The land occupied by the Paro Valley Area Development Project was finally handed over to the landowners today. It was handed over by the Agriculture Minister Lyonpo Pema Gyamtsho to the Member of the Parliament from Lamgong-Wangchang constituency in Paro, Lyonpo Khandu Wangchuk.”The principle of returning the land to the public is right. The land was acquired by the government in 1990 and compensation paid to the farmers. But it was never put to its intended use. So though it’s been almost two decades, there is a strong case to return the land…