Nganglam finally gets a bank

5 March 2010

Opening of a Bank of Bhutan (BoB) branch in Nganglam in Pemagatshel last month is expected to benefit civil servants, business community and the public of the dungkhag.

After repeated requests by the public and dungkhag administration for more than two years, BoB opened the branch coinciding with the 30th birth anniversary of His Majesty the King on February 21.

According to a civil servant, previously the salary of civil servants in the dungkhang was deposited in Samdrup Jongkhar bank. They had to travel across the border with cash on them, which was risky. Besides, they received their salary late.

Sonam, a business woman, said whatever she earned from her restaurant had to be kept at home. Now she is relieved that she no longer has to hoard money. Depositing money in the bank is not only safe, but also profitable, according to her.

According to Karma Jamtsho, the town tshogpa, unlike in most eastern dzongkhags, the bank would not run on losses in Nganglam in view of developmental activities taking place in the dungkhag.

“Many people in the dungkhag grow mandarin as a cash crop. Once Gyalpoizhing-Nganglam highway is completed, Nganglam is expected to become a business hub where a lot of financial transactions will take place,” he said.

The upcoming Dungsam cement plant is expected to employ about 414 people when it is operational by the end of 2011. Project officials said the bank would enable them to make quick payment of salary to the staff and suppliers.

The bank is also expected to benefit farmers. Namgay Pelzang, a farmer from Decheling Gewog, said whatever he earned from the sale of mandarin could not be saved in the past. Now that there is a bank, he said he could deposit the money in the bank and withdraw whenever it is required. “When I have money and no place to deposit it, I tend to spend it uselessly, including on drinks,” he said.

By Rabi C Dahal

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