Acts made on Civil Society Organizations and Public Finance

Thimphu, June 22: The ongoing last session of the National Assembly has endorsed the Civil Society Organizations Bill and the Public Finance Bill on June 20.

Civil Society Organizations Act defines a civil society organization to be any ‘associations, societies, foundations, charitable trusts, non profit organizations or other entities that are not part of the government’. The Act also says that such organizations should not distribute any income or profits to their members, founders, donors, directors or trustees.

However, the act excluded organizations such as trade unions, political parties, cooperatives or religious organizations.

The Act has provisions that it would ensure accountability in such organizations by providing a framework for responsible and effective self regulation codes.

The Public Finance Act incorporates provisions on accounts, reports and returns and that public benefit organizations need to make full disclosure of financial statement including sources of funding, expenditure and audited accounts.

The act will also regulate the financial management of the government intended to strengthen accountability and provide statutory authority and control for sustainable fiscal policy. Bhutan News Service