Contractors working on government projects can expect to receive their payments on time. The financial institutions introduced a new service, the Bill Discounting Facility today. This service is designed to expedite payments to contractors who usually experience delays in receiving payment upon completion of their work due to prolonged processes. However, with this facility, contractors will be able to present their bills to the banks and receive immediate payment. The government will, later, reimburse the bank directly. For now, the service is only available to contractors working on government projects.
Our reporter Deki Lhazom met with Dorji Kadin, the President of the Financial Institutions Association of Bhutan to talk more on the new service.
𝗚𝗼𝘃𝗲𝗿𝗻𝗺𝗲𝗻𝘁 𝗶𝗻𝘁𝗿𝗼𝗱𝘂𝗰𝗲𝘀 𝗕𝗶𝗹𝗹 𝗗𝗶𝘀𝗰𝗼𝘂𝗻𝘁𝗶𝗻𝗴 𝗙𝗮𝗰𝗶𝗹𝗶𝘁𝘆 𝘁𝗼 𝗲𝘅𝗽𝗲𝗱𝗶𝘁𝗲 𝗰𝗼𝗻𝘁𝗿𝗮𝗰𝘁𝗼𝗿 𝗽𝗮𝘆𝗺𝗲𝗻𝘁𝘀Contractors working on government projects can expect to receive their payments on time. The financial institutions introduced a new service, the Bill Discounting Facility today. This service is designed to expedite payments to contractors who usually experience delays in receiving payment upon completion of their work due to prolonged processes. However, with this facility, contractors will be able to present their bills to the banks and receive immediate payment. The government will, later, reimburse the bank directly. For now, the service is only available to contractors working on government projects.Our reporter Deki Lhazom met with Dorji Kadin, the President of the Financial Institutions Association of Bhutan to talk more on the new service.#thimphu #bbs #news #asia #druk #media #bhutan #bhutanese
Posted by BBS on Wednesday, January 8, 2025
