Decision that tickled my @$#

On 20^th February 2012, I get a mail from AP-INTACT- an email-based network group of anti-corruption practitioners from all across the world, publicly announcing of an opening for a scholarship program at the International Anti-Corruption Academy (IACA) at Laxenburg, Austria.  For me, more than the training content, it was the number of anti-corruption practitioners who will be gathering there for this program (70 from all across the world) that captured my imagination. “Wow! What a pool of resources” I said to myself.  ---Such is the opportunity.

“Dear Friends,

I trust this mail finds you well.  The International Anti-Corruption Academy in Laxenburg, Austria, is inviting new applications for its 2012 summer school. Interested friends can find details and apply online here.”

On 2^nd March 2012, I informed this matter to Mr. A. K Rinzin, Chief of the Education Division and decided to apply for this program. But wait! You better inform the Commission about it even though there is no guarantee that you will get through the selection process. On the same day, Mr. A.K wrote to HR Officer requesting her to put up the matter during the upcoming HRC meeting.

“Dear Pasang,

Please find attached herewith the information regarding the upcoming program at the International Anti-corruption Summer Academy. Loday and I will apply………………and that is the reason I am forwarding this to you. Please put it up to the next HRC.

-  A Karma Rinzin”

Considering silence as acceptance, on 14 March 2012, I submitted my application online- a day before the submission deadline. -Such is the aspiration. 

On 13^th April 2012, I get a mail from IACA informing me of my admittance to the International Anti-Corruption Summer Academy with an IACSA Scholarship. They have not only accepted my candidature but also agreed to fund me in full. –Such is the luck.

“Dear Mr. Tsheten,

It is a great pleasure for us to inform you that the IACSA Selection Board has admitted you to the International Anti-Corruption Summer Academy with an IACSA Scholarship. This years´ Summer Academy will take place in Laxenburg, Austria, from 5 to 14 July 2012 at the premises of the International Anti-Corruption Academy (IACA).

In order to process your admission, please confirm your attendance by e-mail before 24 April 2012, 12:00 CET. Please confirm also that you agree with the Declaration of Consent for IACSA Scholarship Holders at the International Anti-Corruption Summer.”

On 18^th April 2012, the matter was put before the HRC for onward recommendation to the Commission-the final approving authority to my two ways ticket to Austria. The following is the minutes of the meeting.

“DCPO informed the HRC that Mr. Loday has applied for scholarship to participate in the summer academy organized by IACA and had received his acceptance letter. It was learned that AK had sent an email to HRO regarding the scholarship. In the mean time he went ahead with application for the scholarship. The members agreed that before applying for the course, the same should have been routed through the HRC. One of the members felt that though there was some procedural violation yet if the course content was useful and relevant, the violation could be excused. And exception could be made considering the relevance of the course. However, majority felt that nomination process was violated and any consideration will create precedence, which may lead to adhocism and derail planned HR implementation.”

If the above minutes of the meeting is anything to go by Mr. Loday Tsheten is accused of procedural violation, setting precedence, creating adhocism and finally derailing the planned HR implementation.

while it’s always nice to be accused of something, somewhere, sometimes, the manner and the wisdom with which such accusations are made calls for serious sole-searching.  I am still wondering as to how and why I might be accused of procedural violation if I have already informed the concerned official prior to my application? Was it right to victimize someone for the inefficacy of another?  –Such is the wisdom and rationale that supports decision-making in an organization that aspires to be the best.

And on 23rd April 2012, a day before the deadline to confirm my participation, I get the final decision from the authority.

“As a senior officer who is fully aware of HR policy and procedure and who has operated as HR member, such oversight of procedure is not acceptable. Despite the scholarship, participation is not approved. This sets an unhealthy trend.”

Fully respecting all the wisdom behind the decisions and of course, adamantly dejecting all the allegations put against, Loday Tsheten wrote to IACA. 

“Dear Sir/Mam,

Thank you very much for your kind consideration. However, I regret to inform you that I cannot make it to the upcoming summer academy program to be held in July this year due to unavoidable circumstances.

Thank you once again and with best wishes,

Loday Tsheten

Bhutan”

  

Rupee crunch and Implication II

However there is no way Bhutan can be complacent about it. As much as people do not want to call this a crisis, the light at the end of the tunnel is dim and we are in for a serious trouble.

Our Ngultrum is highly pressured and is increasingly being pushed to the limit. The Royal Monetary Authority, in a bid to maintain this “peg at par” rate with Indian Rupee, is heavily borrowing. As much as the borrowings from Indian banks help provide much needed rupee in the economy for now it is also increasingly adding up to the already high debt service ratio of our country. Prices of almost all commodities in the market have increased. Investments are halted. Black market is said to be setting in if it is not already in operation. Thought not pronounced, unemployment and layoff in some of the companies seem imminent. 

This is no time for hallow promises that “Everything is going to be okay.” This is no time for blame game. It is time indeed for people in the authority to come up with a viable and sustainable solution.  I for one, for that matter, wouldn’t hide my audacity, beside others, to review the rationale and appropriateness of current pegging system in lieu of the changed economic environment we are in.

May the wisdom prevail for all times to come.

Rupee Crisis and implication thereof

Indian Rupee

The current rupee crunch that Bhutan is facing today, as far as I am concerned, was as sure as eggs. It was, in fact, bowed to the inevitable. To me, it was just a matter of how worse would it get and when?

Just have a look around your house and it will tell you how dependent you are to India. I don’t know about yours- almost everything I have in my house is imported from India including the broom behind my door.  The question however is,- is it bad? Not necessarily I would say. United States, for example has everything imported from China. You can hardly find products made in USA in many of the malls there and so is the case with Australia.

Where is the problem then? The problem lies with imbalance of trade and thus payment. Unlike USA and Australia, we are simply importing much more than what we are exporting.  Was that avoidable? Absolutely not! It is only rationale to demonstrate our economic prosperity through increased pattern of consumption. As much as desirable, the rate at which our economy has grown and growing is directly responsible for this crisis and I would neither blame government nor private sector directly.

Had it not been for Bhutan, situation like this could have already resulted into major financial and economic crisis in the region. Latin American Crisis of 1994 and Asian Crisis of 1997 are some of the legendary examples of how currency crisis can trigger major crisis in the economy. 

The first thing any rationale person would do in such a situation is sell Ngultrum or convert whatever Ngultrum you have into other stable currency or buy gold.  Reaction of such nature, if the market is efficient, will distort market equilibrium by increasing supply and decreasing demand for Ngultrum in the economy. This will invariably lead to what analyst would call ‘loss of confidence’ to our Ngultrum.   Thanks to dead and inefficient capital market, absence of foreign exchange market, un-integrated economy and innocent people- we still have confidence in our own Ngultrum.

To be continued....