The ESP Secretariat presented on the implementation status of Economic Stimulus Programme (ESP)
On the invitation of the Economic and Finance Committee, the ESP Secretariat led by the Hon’ble Finance Minister presented the implementation status of ESP to the members of parliament at the Lhen-Zom Khangzang, National Assembly of Bhutan today. The presentation highlighted key activities, budget approvals, and expenditure status.
Members of parliament highlighted public concerns gathered during constituency visits, focusing on issues such as challenges in technical clearance, inadequate communication between the public and the government regarding ESP plans, and limited bank accessibility. They urged for enhanced government support, especially for the tourism and hotel industries affected by the pandemic. Additionally, they recommended customizing loan forms in both Dzongkha and English to better meet public needs. They also requested the ESP secretariat to prioritize economic growth activities over long-term initiatives while planning the ESP.
The report detailed financial allocations for agriculture and entrepreneurship, reaffirming the government's commitment to economic recovery and local business support. To date, Nu. 5 billion has been received and Nu. 2,671.52 million has been released under the ESP, with various programs, including the Price Guarantee Scheme, set to launch soon. The presentation aimed to ensure transparency regarding fund utilization and its impact, with parliamentarians emphasizing the need for putting in place effective mechanisms to ensure the success of the program.
