The government’s commercial arm Druk Holding and Investments increased in its revenues in last financial year by 8.7%, which technically means the government is making profits. The group announced the after-tax income increased by 62% in the last year.
The group hopes to further increase its market stake this year – further expanding the government coffer which is generally cited as the reason by successive governments to increase salary of the parliamentarians, ministers and public service employees, exuberantly.
Majority of the incomes for the group were reported by Bank of Bhutan, Bhutan Telecom, Druk Air, Druk Green Power Corporation (DGPC), and Bhutan Power Corporation, including State Mining Corporation Limited (SMCL).
The coronavirus pandemic may have negative impact on the performance and income of these companies this year.
As the group makes more profit, it targets to investment in foreign assets. It currently has USD14.5m investment overseas.