Launching of PPP Policy 2016 and Rules and Regulations 2017 (15-Sept-2017)

Press Release
Launching of Public Private Partnership (PPP) Policy 2016 & PPP Rules and Regulations 2017

The Public Private Partnership (PPP) Policy 2016 and PPP Rules and Regulations 2017 was officially launched by the Hon’ble Finance Minister on 15th September, 2017 in the Ministry of Finance, Tashichhodzong. This Rules and Regulations will contribute towards improving socio-economic development of the country.

The Royal Government of Bhutan recognizing the importance of investment in infrastructure to accelerate socio-economic development has embarked on promoting Public Private Partnership (PPP) as a key strategy for achieving sustainable economic growth. Considering the substantive role played by PPP in harnessing private sector investments and their operational efficiencies, the Government has approved the PPP Policy in 2016.

Public Private Partnership (PPP) is a long term arrangement between public and private sectors to leverage private sector resources and expertise in meeting the growing demand of infrastructure development, though shared risk and resources.

The PPP Policy 2016 provides a structured, transparent and institutionalized approach to PPPs – establishing uniform procedures across various sectors and ensuring fair and equal access to PPP projects. It covers all infrastructure and services that are affordable to the Government, end-users and represent Value for Money. Further, it supports the development of viable and feasible projects as PPPs that shall offer reasonable returns to the private sector, better service delivery options for the citizens, while protecting the Government from fiscal risks.

Accordingly, to operationalize the PPP Policy, the MoF formulated PPP Rules and Regulations 2017, in close consultation with key stakeholders with an objective to provide more specific guidance in designing and implementing PPP projects. These Rules and Regulations shall establish an enabling environment for private investors to participate in PPP projects with transparent and streamlined process.

These PPP Rules and Regulations shall be applied to all new projects being planned or solicited for development through the PPP model.

The Royal Government in order to effectively facilitate the implementation of PPP program has established a PPP Unit under the Department of Macroeconomic Affairs, Ministry of Finance in the Year 2016.

Promotion Proposal for January 2018 (15-Sept-2017)

Notification on Promotion

The Ministry of Finance would like to notify all the Departments under MoF to submit the Promotion Proposal for January 2018 latest by 31 October 2017 to the HRD, MoF

We would also like to to notify all agencies to submit meritorious promotion (if any) of those employee under the Ministry of Finance latest by 31 October 2017.

Document required:

  1. Duly completed Promotion Form (Annexure 13/1 of BCSR 2012)
  2. Annual Performance Report for last three years (2014-2015, 2015-2016 & 2016-2017)
  3. Security Clearance Certificate (Valid)
  4. Audit Clearance Certificate (Valid)
  5. Any other documents as required by the BCSR 2012.

Press Release on Launch of Official Credit Card (8-Sept-2017)

1. Hon’ble Finance Minister, Lyonpo Namgay Dorji launched the Official Credit Card for the budgetary bodies on September 8, 2017 at the Tashichhodzong, Thimphu.

2. The introduction of Official Credit Card for budgetary bodies is one of the many new initiatives undertaken by the Ministry of Finance to digitalize the payment systems. The objective of the Official Credit Card is to make the Government payments outside the country more convenient and efficient. Further, it is also aimed at supporting the Government’s initiative of moving towards cashless economy.

3. The Government payment outside the country using the Official Credit Card is expected to reduce the processing time and administrative costs as the transactions would be on real-time.

4. This will reduce the risk of carrying cash advances by officials on travel abroad and also it will facilitate in availing prompt services through the online payment system.

5. In the initial phase, the use of Official Credit Card will be piloted in selected budgetary bodies.

6. Based on the experience during the pilot phase, the Ministry of Finance will gradually implement the use of Official Credit Card in other budgetary bodies.