Bhutan Kuen-Nyam questions the merger of BOIC with BDBL
The Bhutan KuenNyam Party (BKP) has questioned the government on the legality of the merger of Business Opportunity & Information Centre (BOIC) with the Bhutan Development Bank Limited (BDBL).
The President of the party Sonam Tobgay said that the government of day must be made accountable for hast- ily instituting Business Opportunity Information Centre (BOIC) against all legal odds despite early warnings provided by them both through print, television and social media.
The President further said that BOIC has been part of the heavily debated Economic Stimulus Plan (ESP) of the PDP government and a desperate measure though deemed necessary to address the country’s socioeconomic concerns. After incurring two years of high transaction cost and succumbing to an apparent twist to the legal existential saga of the BOIC, the Government has taken a back foot and directed a study committee to merge it with Bhutan Development Bank Limited (BDBL). Such flip-flop decision-making with the
current government exhibits not only a lack of thorough research on the viability of an institution but a deeper manifestation of a careless attitude and incompetence towards governance.
With the BDBL merger, the government must shoulder accountability and answer the questions of how a top-down decision merger be imposed again disregarding the rule of law such as the Companies Act, Service Rules, Recruitment Policies, etc. No recruitment can be justified with BOIC employees getting automatically transferred becoming part of BDBL without doing due diligence to transparent recruitment guidelines of the company. Therefore, another legality issue of such a merger is bound to arise in future public discourse.
Further the party says that who will be respon- sible if some employees (CEO, Directors and other non-core functionaries) are not taken by BDBL, the government must be further held accountable for playing with peoples’ career. A six months lump sum salary for suddenly laying off employees does not answer many of the social moral responsibilities that have fallen on the government’s shoulder.
The Government must make transparent up-to- date achievement of BOIC since inception till date to avoid passing the buck later onto BDBL. The concern for citizen is accountability – who is responsible for the last two years of expensive exercise that our economy cannot afford.
“What needs to be done to prevent the recurrence of such a careless decision that the PDP government is known to indulge. WE must insist on the government being more responsible in carrying out a thorough study before implementing decisions that cost the country dear. Let us hope pledges like the distribution of Bolero vehicles, power tillers and alas “helicopter” services do not follow suit. The country is in the midst of its 11th Five Year Plan and the government’s game plan has become unpredictable by each passing day” the President further added.