The Ministry of Economic Affairs held its 21st Policy and Planning Coordination Committee Meeting (PPCCM) on November 8, 2021 chaired by the Minister. Joining the meeting virtually from their quarantine facilities were Secretary and the Director General, Department of Trade. They are in quarantine after their return from the Commerce Secretary Level Meeting held in New Delhi, India.
The Minister at the outset informed that it’s a matter of high importance to focus and plan for a post-pandemic nation building with long-term goals of being resilient and developed. Lyonpo also shared His Majesty’s concerns and vision for the country, and called for unstinting support to expedite and fast-track strategies to achieve those.
Lyonpo urged the need to get out of our “comfort zones” and put in place a dynamic economic reform agenda for the nation, and that getting the policies right is of paramount importance for the country to be on a fast-track growth. Lyonpo reiterated the importance to work on strategies and policies that support an ‘allow first, regulate later’ approach to support creativity, innovation and reduce barriers to entry rather than strangulate the business environment with an excessive regulatory framework.
The Ministry discussed and endorsed revision of the MMMR 2002 for final submission to the Government, and the need to lift moratorium on mining activities, as it is one of the key economic sectors. The revision was necessary to sustainably facilitate mining activities and to take into considerations the concerns of the people, Parliament as well as address the issues affecting the sector.
The Committee also discussed matters on other trade and industry.