Majority of parliamentarians voted against the Opposition’s motion in the National Assembly, today. Opposition Party had moved the motion to transfer Economic Stimulus Plan Fund to Bhutan Development Bank Limited (BDBL).
Opposition believes Business Opportunity Information Centre’s fund, Nu 1.5 B, transferred to BDBL, should be managed by the corporation and that the Rural Enterprise Development Corporation Limited should not have been established.
North Thimphu’s MP, Kinga Tshering said an already established corporation like BDBL should manage the ESP fund instead of establishing a new organisation altogether.
If they start a new organisation, they will have to start everything from scratch, members of the Opposition said.
Of the 45 MPs, 28 voted against the motion, one abstained, and 16 voted for the motion.
BBS learnt that two from the ruling party also voted for the motion.
The government had recently transferred a revolving fund Nu 1.5 B to BDBL from BOiC. Another transfer of Nu 400 M was made from BOiC to the recently-inaugurated Rural Enterprise Development Corporation Limited.
Members from the Ruling party said if the entire fund is to be managed by BDBL, the interest rates, when they lend out, will be high since they will have to follow Royal Monetary Authority’s set interest rate.
