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Opposition Leader questions the government on borrowings

Feb 27, 2013

NA-DebtThe Opposition Leader, Tshering Tobgay, questioned the government on the country’s debt during the deliberation in the National Assembly, yesterday.

Tshering Tobgay asked, of the total debt incurred, how much has been spent on hydro-power projects.

Bhutan has over Nu. 75 billion debt.  Of the total, Nu. 45 billion was spent on the hydro-power projects. The figure also includes the short term borrowing debt of over Nu.17 billion.

The Opposition Leader said Bhutan’s debt is increasing every year and that the government says the money being spent on hydro-power projects. “I think it is being used up in building infrastructures like the roads, schools and so on.”

The finance minister, Wangdi Norbu, said the imbalance of trade in the country and the fast growing economy are what increased the borrowings. However, he said paying off the debts will not be so much of a problem as the money has been invested in sectors that will have future returns, including hydro-power projects.

The Goenkha-toe Laya MP, Damcho Dorji, said he is skeptical if the debts could be cleared-off through the future hydro-power projects’ benefits.

The economic affairs minister, Khandu Wangchuk, said there is nothing to be doubtful about reaping benefits from the hydro power projects. He said hydro-power projects have helped the country’s economy grow by generating employment opportunities and subsequently improving the per-capita income and the living standards of the people, in the past.

1 Comment for “Opposition Leader questions the government on borrowings”

  1. Simpson

    MP Damchoe sounds using logic in commenting where as Minister Khandu Wangchuk need to give intensive thought on whether hydro-power would give back what is being spent.

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