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Three crises that created the Rupee crisis

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Over the years I have observed one important character of the Bhutanese people, i.e “artificiality”.

Everything is artificial. Look at the land value. Artificial inflation. the land value around the country is being excessively / artificially increased way beyond the actual value. Just as an example, if tomorrow the government wishes to move some of our corporate head offices and other developmental activities like Edn. city, medical college and others which will drag a few thousand people away from Thimphu, the economy will collapse. Houses will go without tenants, which means house owners will have not monthly installment and ultimately Banks will collapse.

Another artificial character is our lifestyle. We Bhutanese like to show what we are not. We may try to show that we are rich by driving SUVs but in actuality if we observe closely, around 90% of people who drive SUVs and foreign cars cannot afford to take Nu 100 worth lunch in a restaurant everyday. 95% of the people who drive foreign cars are in debt. This was evident from the Bank stopping car loans just recently. There are very very few people who can afford to buy car even the cheapest Indian make Alto car in cash.

We need to change our character and the govt. should help stop artificial inflation…

 

Sab


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