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Business Insider Bangladesh

Govt allocates Tk 574cr to pay arrears of BJMC workers

BI Report || BusinessInsider

Published: 19:50, 25 May 2022  
Govt allocates Tk 574cr to pay arrears of BJMC workers

A jute mill. Photo: File

The government has allocated Tk 574.14 crore in favour of Bangladesh Jute Mills Corporation (BJMC) to pay for retirement dues and other liabilities of workers of jute mills that were closed down in 2020.

The allocation comes in the Finance Division’s revised budget for fiscal 2021-22, said a press release issued by the Ministry of Textiles and Jute on Wednesday. ‎

Out of the total amount, Tk 327.7 crore has been allocated for the dues of 1,980 retired officers and employees of the closed jute mills, Tk 234.91 crore for the dues of 217 raw jute suppliers, and Tk 12.16 crore for 1,119 store suppliers.

This money cannot be spent on any other purpose, the release said, adding that the allocated amount has to be paid through the specified bank account of the retired employees and suppliers of the mill concerned.

Meanwhile, a letter signed by the finance ministry on May 10 said the money would have to be repaid in half-yearly instalments at 5 percent interest over the next 20 years (including a five-year grace period).

The government on July 2, 2020, shut down 25 jute mills and laid off over 57,000 permanent and temporary workers because of incurring heavy losses and high maintenance costs.

 

Nagad
Monetary Policy Stance
Budget 2020-21
Walton