BBSCL

The Royal Civil Service Commission has extended the contract period of General Service Personnel (GSP) and Elementary Service Personnel (ESP) employees. Their contract period will be extended up to five years. However, the RCSC said they have to yet to finalise on the para-regular status. There are about 6,500 GSP and ESP employees. According to the RCSC, the GSP and...

The loan deferment period for hotels is set to end in June. According to the Hotel and Restaurant Association, nearly 70 per cent of hotels are still not in a position to begin repaying their loans. The association is now urging the government to provide Economic Stimulus Programme (ESP) loans to affected hotels and to grant an additional one-year deferment...

The Competition and Consumer Affairs Authority recommends that the government introduce standard Terms and Conditions for all private educational institutions. This is to safeguard consumer rights, especially families of students enrolled in private educational institutions. According to the authority, there is a prevalence of inconsistent and vague terms and conditions surrounding refund practices, cancellation policies, and the lack of adequate...

The Asian Development Bank projected that the country’s economy will grow at 8.5 per cent this year. However, in its outlook report, the ADB says the country needs to strengthen its financial sector to achieve this growth. According to the report, currently, the country’s financial system lacks depth and inclusivity. Limited access to credit, especially for small businesses and rural...