The Druk Holding and Investments Limited (DHI) and its companies decided not to take the bonus of two months for the year 2020. This is because of the ongoing COVID-19 pandemic and its impact on the economic development of the country.
This is the first time that all the DHI companies are not taking the 2 months bonus since the inception of DHI in 2007. In accordance with the performance management system guideline (PMS) of DHI, the annual bonus is an important part of the performance-based incentives by the company, which is the maximum of two months’ basic pay of the employees.
A company’s level of performance determines the distribution of final bonus payment and when the companies meet a certain target that the company sets during the starting year. For the year 2020, the total budgeted bonus amount for the DHI Owned and Controlled companies was Nu 344.57 M. As a gesture of solidarity for those affected by the pandemic and as a part of the government’s saving, the company decided to cancel the bonus.
According to the DHI, “It is reported that Bhutan’s GDP was estimated to experience a negative growth of 6.8% in 2020. As per our preliminary assessment, the group’s contribution of taxes and dividends is also projected to be one of the lowest ever. In light of the difficulty the entire nation is facing, DHI as a responsible stakeholder must rise to the occasion and support the state in every way possible.”
With its mission to safeguard and enhance national wealth for all generation of Bhutanese through Prudent investment, DHI is the largest and the only government-owned holding company in the country.
Kelzang Choden
