Friday, March 15, 2019

How prepared are we to face old-age ?

Reports from ILO, World Bank and OECD shows that the world’s population is aging rapidly. It is estimated that there are approximately 670 million people across the world over the age of 60. It is about 10.4 percent of the global population. By the year 2050, the total number of elderly people over 60 years is expected to have reached around 2 billion, or 21.7 percent of the total population in the world.

When people are in good health and are in productive age, they work and contribute to the development and progress of the country. Therefore, it is important that when they are older and can no longer work and contribute, they are not left behind. The prosperity achieved by the country should also be shared with them in the form of old age income security.

Further, an average citizen is not a good financial planner and might fail to set aside sufficient and well-diversified savings while young, thus running the risk of falling into poverty when old. Family support is not always available for all the elderly people, and it declines as economic development happen. Further, urbanization, migration, and labor force mobility adds to the dwindling family support. In most of the countries, elderly citizens rely traditional family support, which is under pressure.

According to the Population & Housing Census of Bhutan, 2017, the total population of Bhutan was 681,720. Out of 681,720 Bhutanese population in all age group, 63,775 were above 60 years of age. The composition of older people against total population in Bhutan was 9.36% in 2017. The total number of older people over 60 years is expected to double by the year 2030. The elderly people are more exposed to the risk of poverty than the rest of the population because of their higher vulnerability to sickness and disability.
In view of the above, reliable mechanisms that ensure systematic protection against risks of vulnerability for older persons are required. While some population groups make individual efforts and make arrangement like personal savings, investments and also through family support mechanisms, majority of the world’s population, especially in the developing world find it difficult to have access to old age retirement schemes.
In fact, in most developing countries, sources of income are unreliable even during working age for most people. This is mainly because many citizens are engaged in informal occupation and do not have reliable sources of income. Therefore, only a fraction of the world population has the capacity to fend for itself during old age. Income security in old age also helps in reducing inequality within and among countries and ensuring decent standard of living for all people.

Monday, February 5, 2018

Moment of Redemption

...During my university days, one of my professors told me the story of an eagle. It is said that the eagle lives for over 70 years.  But during its 40th year, it has to make some hard decisions.  Its long and flexible talons can no longer grab its prey. Its long and sharp beak becomes bent. Its old, aged and heavy wings, due to their thick feathers, stick to its chest and make it difficult to fly.

Then, the eagle is left with only two options: either to die or go through a painful process of change which lasts for over six months. The process requires that the eagle fly to a mountaintop and sit on its nest. There the eagle knocks its beak against a rock until it plucks it out. Then the eagle will wait for a new beak to grow back.

Then it will pluck out its talons The talons are what an eagle uses to catch food. To pluck them out would not only be extremely difficult and painful, but would also take away their ability to provide food for themselves.

When it's new talons grow back, the eagle starts plucking its old, aged feathers. And after six months, the eagle takes its famous FLIGHT OF REBIRTH  and lives for  another 30 more years."

That FLIGHT OF REBIRTH  is the moment of redemption . Redemption time has arrived for FCB. FCB has been in business over 45 years. Hundreds of people have come and gone but it has stayed on. However, over the last six years, it has grown many thick feathers  in its under- belly.

There are legacies of burden left behind  for which many innocent people and new management may have to toil everyday to clean. But in the end, what really matters is the lesson learnt and the hope that keeps everyone warm... a hope that FCB will transform itself into the best trading company in Bhutan….a hope that FCB will become household name in Bhutan…a hope that there are self motivated people driving the success of the company. …

Wishing Tashi Delek to New CEO 

Saturday, June 17, 2017

God waited for long time because documents had to be located...

Thank you all for giving truth a chance. It deserved a hardlook.  I removed the last post because someone had uploaded documents online.   My family remains indebted to everyone who provided me with fresh openings.

Tuesday, August 23, 2016

I woke up yesterday morning as a criminal. Kuensel published the news story on how ACC has implicated me, my father and a friend of my father. Since the case is sub-judice, I won't have much to comment here but I surely would have lot to say when the legal battle is over maybe...a new book ...that would make lots of sense. Anyways, now I am saddling the camel to ride on long lonely desert....long legal battle. I hope the court will use their third eyes to uphold justice....By the ways, I just copied this picture from FCB facebook page. They were very efficient in posting this picture and deleting some of the comments I posted with picture.

Thursday, June 4, 2015

Clueless....Thats what FCB management says

Isn't this case weird....whacko!!!!!!!? the management of FCB is clueless about how the shortage in FCB auction yard happened? Over the past three years, the manipulations, shortages and embezzlement in FCB has crossed over 2 crores and FCB is clueless about how the shortages happened. There is a huge case of manipulations, embezzlement and court cases going on and the Board of Directors continue to believe in the lies of the FCB CEO. I am wondering what the FCB management ...has been doing all these years in the first place and what our government is doing by keeping an incompetent CEO to manage FCB even after so much shortages have been revealed. Sometimes, we are given to believe that there is personal interest in Board of Directors or political interest in our Government for keeping corrupt people still in power. Is Bhutan so short of competent people that we cannot find one decent CEO to run a company efficiently? Or is it still all about push there and pull here, buttering up and itchy palm down there?
It is such a shame that the management does not even know how a simple business transactions are recorded. It also shows that the supervisors, managers and management are there for the sake of being there. If they are clueless about what is happening in FCB right now right under their nose, they may also be clueless about how they manipulated the documents, evidences and FCB stock inventory system in 2013. They may also be clueless about how they shamelessly lied to Board and how the management kept jacking his salary and allowances every few months. The management may also be clueless about stealing money from discretionary fund and keeping security guard to cook food for him for three years at the expense of FCB. The management may also be clueless about how profit is inflated in the final accounts of FCB.The list is endless. Given the quality of people in FCB right now, It is inevitable that FCB has become sore throat and hopefully the Board of Directors and the Government is reading through.   Until the whole people in FCB is overhauled( including the ones on deputation and whole system) and the stock inventory are cleaned properly, we are feeding the demons with our own flesh daily. It is such a shame that a 41 year old company should be ruined by a management who does not even know how to keep proper transaction of daily business.

How prepared are we to face old-age ? Reports from ILO, World Bank and OECD shows that the world’s population is aging rapidly. It is ...