The status of the two political parties, Druk Phuensum Tshogpa and People’s Democratic Party remain unaffected as the registered political parties. The announcement comes after both the parties cleared their debts incurred during their political campaigns.
The Election Commission has completed reviewing the Financial Status and Accounts of the registered political parties. The Parties submitted their status report to ECB on 16th July.
“We would like to state that the status of the parties will remain unaffected, after the financial liabilities are properly taken care. I would like put on record that PDP with major liabilities made utmost and genuine effort in resolving it,” said the Chief Election Commissioner, Dasho Kunzang Wangdi.
Dasho also added that ECB would like to underscore the importance given to the issue by the former president, Sangay Ngedup. “I think we should record his personal sacrifices and contributions made to democracy introduced by our visionary kings.”
PDP has settled its liabilities of Nu.22, 838,436.50 which the Party owed to the former PDP president. The former party president, Sangay Ngedup, had auctioned his land against the settlement of the Bank loan. “Sundry debtors of Nu.17, 633,440.27 was adjusted as the voluntary contributions from its registered members,” said Dasho Kunzang Wangdi.
The DPT has settled its financial liability of Nu. 20,396,428.57 which the party owed to the Bank, president and sundry debtors from the voluntary contributions collected from its registered members, to the satisfaction of the commission.
According to the report on financial status of two parties, DPT after clearing all its financial dues has about Nu.87,582.69 as cash in hand and Nu.312,542.92 as cash at Bank. PDP has Nu.800.26 as cash in hand and Nu.368, 784.02 as cash at Bank as of 30th June 2012.
However, based on the examination of records and the explanations received, findings and the recommendations of the Royal Audit Authority and scrutiny of ECB both the parties are required to take a list of actions.
The list includes strict compliance with the standards and principles of generally accepted accounting principles while maintaining proper and transparent books of accounts. The parties have to furnish information to ECB of the Dzongkhag party offices and their addresses at which public can contact by the end of December, this year.
The parties also have to publish their audited annual accounts at the end of every financial year. Both the parties are required to resolve the pending issues and submitted a report to the ECB on the Actions Taken by the 15th of October this year.
