News

News and Press Release from Ministry of Finance

News (19-Aug-2021):

On the auspicious 10th day of the Seventh Month of the Iron Female Ox Year corresponding to 17th August 2021 (Tuesday), Mr. Phuntsho Wangdi joined Directorate of Services as the Director. Prior to this appointment he served as Chief Budget Officer of the Department of National Budget, Ministry of Finance.

 1,024 total views

News (16-Aug-2021)

His Majesty The King conferred Dhar to Dasho Kesang Deki, appointing her as the Secretary of the Ministry of Finance on 14th August 2021.

His Majesty The King conferred Dhar to Dasho Kesang Deki, appointing her as the Secretary of the Ministry of Finance on 14th August 2021 corresponding to the 6th day of the 7th month of the Iron Female Ox Year. Dasho’s meritorious career started as a young tax officer in the Department of Revenue and Customs under the Ministry of Finance, rising on to become the head of Tax Administration.In recognition of her outstanding leadership, she was appointed as one of the four Commissioners of the Royal Civil Service Commission on 21st May, 2014. Following the successful completion of her term, Dasho returned to Ministry of Finance as the Director General of the Department of National Properties on May, 2019. The Ministry of Finance fraternity would like to felicitate Dasho Kesang Deki, on her promotion and appointment as the Secretary of Ministry of Finance. We offer our heartiest Tashi Delek and best wishes for a very successful tenure.We are confident that the Ministry will achieve greater heights in serving the Tsawa Sum under Dasho’s able leadership.

 1,087 total views

News (13-July-2021)

Tribute to a Leader

Dasho Nim Dorji was appointed by His Majesty The King as the new Finance Secretary on 14th July, 2016. Prior to his appointment, Dasho served as Director General of Department of Agriculture in the Ministry of Agriculture and Forests.

Dasho started his career in 1988 as Trainee Officer in the Ministry of Finance. Dasho became the Director of Department of Public Accounts in 2007 and the Joint Secretary of the Ministry of Finance in 2012.

Dasho holds a Master’s Degree in Business Administration from the University of Canberra, Australia.

During his tenure, Dasho with his extraordinary leadership spearheaded many fiscal reforms and initiatives.

As Dasho successfully complete his term today on 13th July, 2021 the Ministry of Finance would like to thank Dasho for his 33 years of dedicated service and expert guidance.

The Ministry of Finance wish Dasho the very best for the future endeavors.

 804 total views

Press Release on Launch of electronic Government Vehicle Quota System (e-VQS). (05-July-2021)

The system of providing foreign vehicle quota was introduced in the 1980s, at a time when public transport, buses and taxis were almost non-existent. The main objective was to facilitate the import of foreign vehicles for public servants and to minimize the pressure on limited number of Government pool vehicles. It was also aimed at easing the mobility of the public servants while conducting their official duty and to standardize the import of foreign vehicles into the country.

The civil servants and public servants in P3 level and above are entitled for a vehicle quota, free of customs duty and sales tax exempted up to a ceiling of Nu.0.800 million after every 7 years of import. With the Pay Revision Act 2019 civil servants and public servants vehicle quota has been provided with an option of monetized amount of Nu.0.250 million or a monetized amount of Nu.0.350 million on purchase of an electric vehicle.

With the introduction of e-PEMS, the monetized amount for the vehicle quota has been directly credited to the beneficiary’s Bank account, however for the vehicle quota, the beneficiary had to bring along the original documents to avail the quota.

Starting from 1st July, 2021 MoF launches the online system called electronic Government Vehicle Quota System (e-VQS) to provide the vehicle quota online to enhance public service delivery and harness the advantages of digitalization especially during the pandemic situation. This is in addition to the following initiatives of the Government:

  1. e-PEMS (electronic Public Expenditure Management System),
  2. e-DATS (electronic Daily Allowance and Travel System),
  3. e-GP (electronic Government Procurement), and
  4. BETA Apps (BIT Estimated Tax Apps).

This is an important milestone towards embracing ICT to eliminate routine manual and clerical tasks. With the e-QVS in place, it is expected to greatly reduce administrative burden and improve public service delivery through reduced turnaround time.

The system has been developed in-housed, on an open source technology and deployed at the Government Data Center (GDC). The system is easy to use, as it has been developed in a simpler way keeping in mind the different level of users, it will cater to. The MoF will be updating the e-QVS from time to time, to respond to the rapid pace of change and technology to deliver greater effectiveness and efficiency. 

The electronic Government Vehicle Quota System (e-VQS) can be availed through http://evq.mof.gov.bt/

*****

 4,619 total views

Press Release (21-April-2021)

  • The Royal Civil Service Commission and the Ministry of Finance has jointly launched the piloting of Cluster Finance Services in Bumthang on 20th April, 2021.
  • The joint launch was attended by Hon’ble Finance Secretary and Hon’ble Focal Commissioner for MoF, Royal Civil Service Commission.
  • The Cluster Finance Services is the collaborative initiative of the Royal Civil Service Commission and the Ministry of Finance.
  • The objective of this initiative is based on the concept of sharing of services by leveraging the use of ICT.
  • It will bring together all finance personnel working in various regional/autonomous/branch offices under one cluster office in each region/Dzongkhag. However, this initiative does not include the Finance Sections of the Dzongkhag administration.
  • All finance services would be catered from the office of Cluster Finance Services irrespective of the location of the agencies.
  • The initiative will optimize and rationalize the deployment of finance personnel and eliminate the current practice of their placement in individual agencies and achieve the objective of doing more with less.
  • This initiative is expected to enhance prudent fiscal discipline through proper check and control mechanism, and institute adequate internal control system in the agencies.
  • It is also expected to improve the performance and delivery of finance services through enhanced efficiency of finance personnel and standardized service delivery across agencies.
  • The Cluster Finance Services is expected to contribute towards restructuring the budget process and financial norms as enshrined in the Royal Kasho on Civil Service Reform.
  • This initiative was also launched for the regional offices under Paro Dzongkhag on 8th April 2021. It will be implemented on pilot basis for regional offices under Bumthang and Paro Dzongkhags until June this year and will be rolled out in Thimphu and other Dzongkhags in a phased manner from July 2021.
  • The pilot initiative is being carried out with the financial support of multi-donor fund (MDF) contributed by the European Union (EU) and Austrian Development Agency (ADA), and administered by the World Bank (WB).

 1,077 total views

Press Release (09-April-2021)

  • The Ministry of Finance in coordination with the Royal Civil Service Commission has launched the piloting of Cluster Finance Services in Paro and Bumthang Dzongkhags.
  • Hon’ble Finance Minister, Lyonpo Namgay Tshering graced the launch event at Paro on 8th April, 2021.
  • This initiative is carried out as a part of overall public financial management (PFM) reforms to strengthen fiscal discipline and to provide efficient finance and accounting services in budgetary bodies.
  • The objective of this initiative is based on the concept of sharing of services.
  • It will bring together all finance personnel working in various regional/autonomous/branch offices under one cluster office in each region/Dzongkhag. However, this initiative does not include the Finance Sections of the Dzongkhag administration.
  • All finance services would be catered from the office of Cluster Finance Services irrespective of the location of the agencies.
  • The initiative will optimize and rationalize the deployment of finance personnel and eliminate the current practice of their placement in individual agencies.
  • This initiative is expected to enhance prudent fiscal discipline through proper check and control mechanism, and institute adequate internal control system in the agencies.
  • It is also expected to improve the performance and delivery of finance services through enhanced efficiency of finance personnel and standardized service delivery across agencies.
  • This initiative will be implemented on pilot basis for regional offices under Paro and Bumthang Dzongkhags until June this year and will be rolled out in Thimphu and other Dzongkhags in a phased manner from July 2021.
  • The pilot initiative is being carried out with the financial support of multi-donor fund (MDF) contributed by the European Union (EU) and Austrian Development Agency (ADA), and administered by the World Bank (WB).

 1,026 total views