The workings are being done and details are emerging on how the fiscal and monetary measures and the Druk Gyalpo’s Relief Kidu would benefit those affected by the Covid-19 pandemic.
Within the first hour of the launch of the Druk Gyalpo’s Relief Kidu, about 300 people have applied for the kidu. By the end of the day, more than 1,800 had registered. Several teams are working and verifying the details to ensure that the kidu reaches the most in need.
On the monetary and fiscal measures initiated by the central bank on Royal command, bank and financial institutions are clearing the misconceptions and encouraging people with steady income and not affected to pay their equated monthly installments even if it is deferred by three months.
The essence of the Royal Kidu is simple, clear and straightforward. It should reach the needy, the most deserving. This should be the guiding principle. Given our kidu culture, everybody is an eligible kidu recipient.
On the Druk Gyalpo’s Relief Kidu, there are teams and experts who are ensuring that the kidu will not be misused and reach the intended target. The kidu is for those displaced, laid off, sent on unpaid leave or reduced salary and self-employed people who have lost their income partially or completely.
More details would emerge in the coming days, as the team verify the applications. One thing that is clear is that it is His Majesty’s Kidu and we need not worry about preference or favouritism. People honour and respect Royal initiatives. Some, even if affected, are feeling that there are more deserving people and, therefore not applying.
These include drivers, guides and those in the informal sector who are directly affected on their wealth, if not heath, by the pandemic. A part-time driver for a travel company knows that some of his friends raise their family, driving tourists around. He feels for them and decided not to apply.
The loan interest waiver and the deferment of EMI payment cover everyone who availed loans from banks or financial institutions except those who defaulted or those who availed staff incentive loans. From the profits and dividends banks declare every year, there is a substantial clientele. The beneficiaries are all those affected and not. For many, especially those cushioned by salaries, the Royal initiatives come as extra benefits.
The government is not asking landlords to discount or waive off house rents. They are leaving it to the landlords. The expectation is that in times of need like today, people will help each other and not leave everything to the state.
There are good examples. Some landlords are waiving off rent, partially or completely. Some are waiting. Some employers are paying or not laying off staff. They feel that the profits they made during good times, for years, should be able to help their employees during rough times.
Form our experience, every time there is a disaster, His Majesty The King is on the forefront, ensuring the people are not affected. Kidus are granted even if a family loses a member in an accident. What we could learn from this is sharing the responsibility.
In today’s case, many are benefiting from the Royal initiatives. The biggest service to the country, the King and the people are in times of need. A lot of people are in need today.