It will cost the government an additional Nu 260 M to address unemployment in this financial year. The National Assembly resolved to discuss on the additional amount by the end of this month.
The budget is expected to employ over 5,700 youth through various employment programs.
As the Finance Minister, Namgay Dorji introduced the Supplementary Budget Appropriation Bill for this financial year; he said the money will be allocated from the interest received from the government’s borrowing to financial institutions under the Economic Stimulus Plan.
The Opposition Party however demanded explicit reasons from the government as to why the supplementary budget was required and how it would be utilized.
“We would like to request either the labor minister or finance minister to explain why the supplementary budget is required, where it will be allocated and how efficiently the money will be utilized,” the Opposition Leader, Pema Gyamtsho said.
The Labor Minister, Nyeema Sangay Tshempo responded that the budget will be allocated to fund the ongoing Guaranteed Employment Program which will benefit 1,600 youth.
It will also be used to employ 1,300 youth overseas. Livestock farming and farm mechanization among others are some of the areas of where the budget will be allocated.
“It’s not only the government that’s worried about youth unemployment. All parents and families of unemployed youth are equally worried. Moreover, the youth themselves very much know the plight of unemployment. This is why we proposed for additional budget today”
The house forwarded the bill to the Finance Committee for review. The committee will present a report to the House on November 28.
