Sorry State of Bhutanese Economy!!! The state of the Bhutanese economy after a year of the PDP governance is a sorry state. Business confidence has hit rock bottom and unemployment and inflation are skyrocketing. Rupee crunch is still a major challenge. On socio economic development too, there is total confusion. Gewogs across the country are complaining of slashed budgets and gups are even refusing to sign performance compacts with the government. The private sector, supposedly the engine of growth has now come to a grinding halt. There are no contracts to be awarded and no major infrastructure projects planned. After a year in the office, at best the government is just thinking about setting up what they call the Better Business Council while steel industries are shutting down and FDI investments like G4S are being chased away. Hydropower is the main jewel of the nation. The previous government had signed an MOU for 10,000 MW and had started the construction of about 3000 MW projects. The present government had started zero projects. Unemployment issue has further degenerated into an abysmal state with unemployment rates increased from 7.5 5 to 9% for the youth. Thousands of graduates flock the job market with no opportunity at sight. The Employment Guaranteed Program is tackling temporary symptom and not addressing the root cause. There is no direction from the government who do not seem to have a clue on what they are doing. One can really get an idea of their competency when we look at the major policy decisions and conduct of the third parliament session. They shelved some of the major initiatives of the past government like that of the Education City project, Wellness Center and Pedestrian Day. The office of the Prime Ministers is disgracefully promoting commercial products like the electric cars when these products are neither tested & researched properly nor enjoy public support due to perceived conflict of interests. The hard working civil service are disappointed when the much touted pay raise was hijacked by the Cabinet and the MPs who kept the lion’s share of the loot and threw the crumbs to the bureaucrats. It is about time the government comes up with a realistic, working solution to revive and recuperate our ailing economy, which they promised to record an annual growth rate of 8%.
Posted on: Mon, 18 Aug 2014 08:37:52 +0000
Trending Topics
Recently Viewed Topics
© 2015