PDP’s financial status to worsen further

Thimphu, September 29: People’s Democratic Party (PDP), the opposition feared to get dissolved due to bankruptcy, is likely to get further financial hurdles as Bank of Bhutan failed to auction the land owned by its president.

Sangey Ngedup had mortgaged his 67 decimal land in Changdedaphu, Thimphu for Nu 20 million during the party’s election campaign last year. However, the bank is learnt to have refused to auction the land citing legal provisions where it is stated that personal contribution to party must not cross Nu 100,000.

However, election commission has already given hints to revision of the individual contribution on genuine issues, for which the commission has already received appeal. However, if the commission fails to revise the provision, PDP leaders prepares to share the loan among all members, who will in long run pay back to their president in installments.

PDP’s only alternative to pay the loan is to auction the land. Bhutan News Service