News

News and Press Release from Ministry of Finance

Hon’ble Lyonpo joins Office


His Excellency Lyonpo Namgay Tshering, the new Minister, officially joined Ministry of Finance on 7th November 2018.

Prior to joining politics, his Excellency served as the project coordinator of the World Bank and Global Fund Project and as the Planning Officer and Program Manager in the Ministry of Health.

The Management and Staff of the Ministry offers warm felicitations and look forward to working under Lyonpo’s guidance and leadership.

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Press Release (3-Oct-2018)

PRESS RELEASE

Transfer of RMA’s Annual Surplus for FY 2017/18 to the Royal Government of Bhutan

The Royal Monetary Authority of Bhutan successfully closed its accounts for the financial year 2017/18 and submitted its annual surplus to the Royal Government of Bhutan on 3rd October 2018.

The cheque for the net surplus of Nu.1,550.24 million was handed over by the RMA to the Ministry of Finance in the presence of the Interim Government’s Advisor to the Ministry of Finance, Dasho Karma Ura.

Compared to the net surplus transfer for FY 2016/17 of Nu. 1,001 million, the net surplus for FY 2017/18 has been the highest so far and reflects to some extent better reserve management, with net interest income from investment contributing Nu.249.81 million to the increase in the surplus. Gross international reserves remain at a little over USD 1 billion. These developments reflect the soundness of the economy and efficient management of reserves by the RMA.

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Grant received from World Bank for supporting Reforms in the Mining Sector (5-Jun-2018)

THIMPHU, June 5, 2018 – The Royal Government of Bhutan received a US$ 300,000 grant from the World Bank-led Extractives Global Programmatic Support (EGPS) multi-donor trust fund to support reforms in the mining sector and assist the Department of Geology and Mines with the implementation of the 2017 Mineral Development Policy.

The project, Supporting Minerals Management Policy Reform, will help (i) revise the 2002 Mines and Minerals Management Regulations; (ii) access international best practice advice on mines allocation, strategic minerals and mineral pricing; (iii) support advocacy programs for the implementation of the Mineral Development Policy; (iv) build technical capacity within the Mineral Development Division; and (v) enhance information system and compliance monitoring.

The Grant Agreement was signed today between the Hon’ble Finance Minister, Lyonpo Namgay Dorji and Mr. Yoichiro Ishihara, Resident Representative, World Bank.

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Promotion ceremony of Chief Planning Officer and Chief Finance Officers (10-Jan-2018)

On 10th January 2018, the Ministry of Finance celebrated the promotion ceremony of Chief Finance Officers to MoF, MoAF, MoH, MoWHS, MoEA, MoFA and Chief Planning Officer, PPD, MoF. The ceremony has been graced by the Honorable Finance Secretary.
Dasho congratulated the newly appointed Chiefs and urged them to work towards further strengthening the financial and budgetary management system in their respective agencies. More importantly, Dasho assured unwavering support and guidance to the newly appointed Chiefs and inspired them to collectively build the credibility of Ministry of Finance.

Dasho addressing to the newly appointed Chiefs

Newly appointed Chief Finance Officers and Chief Planning Officer

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Address by the Hon’ble Finance Minister in welcoming the new recruits (9-Jan-2018)

The Ministry of Finance had welcomed 84 new recruits as a part of the MoF family on 8 January 2018. The welcoming ceremony has been graced by the Honorable Finance Minister.

The Honorable Finance Minister congratulated the entire new recruits for having selected into various vital positions under Ministry of Finance and numerous agencies across the RGoB Sectors. The Honorable Minister further highlighted and reminded the new recruits on how fortunate we are to be born in the land of Thunder Dragon under the visionary leadership and guidance of Wangchuck Dynasty. The new recruits have been inspired and motivated by the wisdom of Honorable Minster to work towards achieving greater peace, prosperity and stability of the Nation through shouldering important responsibilities individually and collectively. The Honorable Minister also informed that the new recruits have successfully completed their one phase of life and now, embarking upon a new phase of life; absolutely afresh and encompassed by challenges and successes ahead.

The ceremony has been fruitful and educative with Questions and Answers Sessions between the new recruits and Honorable Minister, Honorable Secretary and Department Directors.

The ceremony concluded with the Honorable Minister extending his prayers and wishes to the entire new recruits for their successes in future endeavors. The Honorable Finance Secretary, Department Directors and Officials from the MoF took part in the important function of welcoming the new recruits on 8 January 2018.

The Honorable Finance Minister Addressing the New recruit

The Honorable Finance Secretary answering to the questions asked by the new recruits

The Director, DRC answering to the questions asked by the New recruits

The Director, DPA answering to the questions asked by the New recruits

The entire New recruits with Honorable Finance Minister, Honorable Finance Secretary and Department Directors

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Annual Financial Management Workshop (22-Dec-2017)

1. The opening ceremony of the “Annual Financial Management Workshop: Improving Public Service Delivery through Enhanced Fiscal Decentralization” was graced by the Hon’ble Finance Secretary on 20th December, 2017 at the Regional Revenue and Customs Office, Gelephu.

2. The three day annual workshop is exclusively for the Accounts Officers from all the budgetary agencies of the country.

3. The objective of this annual workshop is to bring together all key players in the Public Financial Management (PFM) and update knowledge on some of the new initiatives and development in the PFM system like, revised Financial Rules and Regulations 2016, PEMS, MYRB, RAMIS, e-Government Procurement System and e-Payment.

3. This platform will provide an opportunity to discuss and deliberate on the issues and challenges faced by the finance personnel while carrying out responsibilities and functions on daily basis in the field.

4. The Royal Civil Service Commission, Royal Audit Authority and the Office of Anti-Corruption Commission will also make a presentation to the participants during the course of training.

5. Around 100 accounts officers will participate the three day workshop from 20-22 December 2017. The annual workshop will conclude on 22nd December 2017.

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