The Minister for Finance today presented the implementation status report on the nine resolutions passed on the National Budget for the FY 2022-2023 during the Seventh Session of the Third Parliament.

The nine resolutions were on Digital Drukyul Flagship Programme, Relaxation of COVID-19 restrictions, Export of Agriculture products, Granular sub-base (GSB) Phase II, implementation status on the resolutions/recommendations, enhancing access of credit to the private sector through discussion on the high-interest rates and equated valuation of collaterals, Economics and Finance Committee supports the provision of a supplementary budget to the Ministry of Agriculture & Forests, time and costs extensions on the hydro project constructions, and extension of the tenure of Education Loan.

With regard to the Digital Drukyul Flagship Programme, the Minister submitted that with the restructuring of the Civil Service and creation of a separate government agency for Technology (GovTech), the implementation of the Digital Drukyul Flagship Programme will become more effective and efficient. He also reported that the overall physical achievement of the Digital Drukyul Flagship Programme is 70.44% and the financial progress is 64.11% as of 30th September 2022. Of the eight main projects under the Programme, it was reported that the six projects; Government Initiated Network(GIN), Enhancement of ICT capacity & capability, Integrated Citizen Services, Digital School, National Digital Identity(NDI), and Integrated Business Licensing System (IBLS) are to be completed in the 12FYP and that the other two projects will be spilled over to next plan period.  

On the relaxation of the COVID-19 restriction, the Minister reported that with the opening of the country on 23rd September 2022 all COVID-19 containment measures have been lifted. On the issues with the export of Agriculture products, it was submitted that the Ministry of Agriculture and Forest( MoAF) and Ministry of Economic Affairs (MoEA) have worked closely to enhance exports of agricultural products and resolved various export issues jointly, particularly during COVID period and that the Department of Agriculture and Marketing Cooperatives (DAMC) has taken up the mandate to educate and advocate the farmers/exporters on the prerequisite and export requirements which need to be fulfilled and produced/declared for export of agri-products to other countries. It was also reported that several export market diversification and overall export promotion initiatives are being explored and discussed as of now.

On the Granular sub-base (GSB) Phase II, the House was informed that a Terms of Reference (TOR) has been provided to the Local Governments (LGs) clearly outlining the objectives, technical specifications/ guidelines for Farm roads, modality for joint-monitoring, reporting and provision for joint assessment of the improvement works which is further revised to allow the simultaneous rollout of both Phase I and Phase II GSB works. Accordingly, the budget for Phase II priority one works has already been budgeted in the respective Dzongkhags and will be released based on the LGs’ capacity and readiness to implement the works. It was also shared that the Technical Guidelines for Laying the GSB for Farm Roads was developed by the Ministry of Works and Human Settlement and shared with the LGs and that the guideline provides details of specifications such as preparation and consolidation of sub-grade, stone-soling, blinding materials, roadside drains, and road shoulder construction.

On the time and cost extensions on the hydro project constructions, it was submitted that the Punatsangchhu I Hydroelectric Project is expected to resume major construction works after the decision on the construction of the Barrage is reached between the two Governments. On Kholongchhu Hydro Energy Limited, the House was informed that discussions are underway between the two Governments to take the project forward.

Regarding the resolution to extend the tenure of the education loan to 15 years, the Minister submitted that the Royal Monetary Authority (RMA) does not prescribe loan tenure including tenure for education loans and that education loan repayment tenure ranges from 1 year to 15 years in different financial institutions.