English | Dzongkha Sunday, May 26, 2019

DHI met its commitment

Jun 20, 2011

The profit of the Druk Holding & Investments (DHI), according to its Annual Report 2010, showed a decrease by Nu 629.86 million based on the dividends declared by the companies under its umbrella. Income for the year 2010 was Nu 4,468.69 million.

The decrease in the income was mainly because of the low dividends received from its holding companies. In the same year, Druk Green Power (DGPC) retained larger chunk of its profits to make equity investment on projects under DHI Infra Limited.

Future investment plans of Bhutan Power Corporation (BPC) and DGPC, increase demand for energy in the domestic market and expenses incurred at the Tala Hydro Power Authority, are other reasons for the decrease in Income of DHI.

The DHI incurred a total expenditure of Nu 45.28 millions, making a profit of Nu 4,423 million before tax, and it contributed Nu 1327.03 million as corporate tax. The report shows an increase in expenditure by 1.87 percent in 2010.

Starting from last year, DHI paid taxes as per its actual profits, and dividends were transferred separately to the Ministry of Finance (MoF) as an earning on investment of the government.

“DHI met the target committed to the Government,” Lyonpo Om Pradhan, Chairman of DHI added in his statement, “we also achieved 98.88 percent of Compact Target set by Ministry of Finance.”

The DHI has total reserves of Nu 986 million. The DHI hold and manage 12 commercial government companies.

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