Wednesday, December 31, 2014

Public &Private Dialogue Forum 29th December,2014.

The Prime Minister was quite candid with the business people. I felt the address was a realty check for the private sector. Let me highlight the issues brought forth:

1. Neither the Government nor the Private sector can authoritatively state what % the private sector contribution is to the economy. The Prime Minister had asked the Statistical Agency to look into the issue. Has BCCI or private sector thought about it?

2 Private Sector is welcome and must participate in the lucrative power sector development but first Private Sector must develop its in house national capacity including full Bhutanese Managerial Capacity. The Government would be prepared to award contracts directly to a fully capable Bhutanese firm just as in the case of a firm which is fully manned by Bhutanese to build bridge.

3. Regarding electricity rate the Private Sector need to also take into account the cost factor of importing power supply from India during lean seasons at comparatively higher rate that was not passed on to the private sector.

4. The Government would be always ready to hear and discuss private sector needs and grievances and 2 hours every Monday was committed for such process.

5, Nu: 5 billion was available to fund private sector growth and the process is on.

The BCCI had also put forth the cash crunch issue. Maybe it is little outdated financial picture of the recent past. Presently I am told by a reliable financial Executive that Banks now have excess liquidity so they are planning to reduce interest rates on deposits. This of course would be good news to private sector.

I am impressed with the matter of fact approach taken by the Prime Minister.

1 comment:

  1. I am not sure if Lyonchen is right in saying we import power at higher price. I asked some of my colleagues who work in power sector. They said we do not import power at higher price. As a Lyonchen not knowing this simple fact about the most important commodity of our country is shameful and disgraceful.

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