The Opposition Party calls for stronger action regarding the administrative lapses reported in the ESP loan cases by the Anti-Corruption Commission, ACC. During a Press Conference held yesterday, the opposition party stated that the issue extends beyond administrative lapses and raises serious concerns about nepotism, favouritism, and patronage.
The opposition urged the chairperson of the ESP Steering Committee, the finance minister, to uphold accountability.
“Since the Finance Minister is also the Chairperson of the Steering Committee, the highest level of accountability rests with him. All directives, guidelines, and monitoring fall under the Steering Committee. Therefore, from the Opposition’s side, we believe that as Finance Minister and Chairperson, he should step down,” said Rinchen Wangdi, a member of the Opposition Party.
Another member Damchoe Tenzin said, “The issue arises from procedural lapses. The rules and procedures are sound; the problem lies with individuals who failed to follow them. There are two types of violations: those committed under the direction of a supervisor or higher authority, which are addressed through accountability mechanisms, and those committed independently by an individual without any directive. In such cases, the individual concerned is held accountable for the lapse.”
Opposition Leader Pema Chewang said,“The ESP loan was introduced to support an economy damaged by COVID-19. Therefore, the responsibility and accountability fall on the government.”
According to the opposition party, the government must ensure full recovery of all loan amounts disbursed in violation of ESP guidelines, along with applicable interest and penalties.
The opposition also insisted that the government disclose undisclosed partners to rule out the involvement of politically exposed persons. The ACC’s investigation uncovered a broader pattern of deception involving undisclosed partners.
Tempa Dorji, a member of the Opposition Party said, “We have encountered cases where individuals have established companies without properly disclosing their partners. Such cases must be thoroughly investigated. If loans were granted to companies without full partner disclosure, it must be carefully examined whether this amounts to corruption.”
The ACC recently concluded its investigation regarding allegations surrounding the disbursement of loans under the Economic Stimulus Programme, ESP.
The report revealed that the reviewed cases did not warrant criminal prosecution. However, it identified serious administrative lapses in the interpretation, application, and enforcement of ESP guidelines by participating financial institutions.
Singye Dema
Edited by Phub Gyem
