BGMEA president declares Tk99.13cr in assets; nomination valid

The nomination papers of Mahmud Hasan Khan, president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) and BNP-nominated candidate for the Chuadanga-2 constituency (Damurhuda–Jibannagar), have been declared valid.

He declared assets worth nearly Tk99.13 crore in his election affidavit submitted to the Election Commission.

According to the affidavit, published on the EC's website, Mahmud has total movable and immovable assets valued at Tk99.13 crore at acquisition cost. Of this, movable assets account for approximately Tk87 crore, while immovable properties are valued at Tk12.10 crore. His annual income has been shown as Tk4.83 crore.

The affidavit also states that he has personal liabilities amounting to Tk13.56 crore.

Mahmud, 59, has listed Jibannagar upazila of Chuadanga as his permanent address and Gulshan-2 in Dhaka as his present address. He has disclosed that one case is currently pending against him, which is under investigation.

Among his movable assets, he has declared cash holdings of Tk4.01 lakh and bank deposits of Tk1.54 lakh. His investments in bonds, debentures and the stock market amount to Tk86.12 crore. He also owns shares worth Tk26.5 lakh in Gulshan Club Limited and a car valued at Tk58 lakh.

His immovable properties include approximately 3.5 acres of agricultural land valued at Tk48.43 lakh. He owns a building on 42 decimals of land, valued at Tk11.58 crore, and an apartment measuring 625 square feet, shown to be worth Tk3.46 lakh.

According to the affidavit, Mahmud earns Tk1.58 lakh annually from agriculture, Tk1.77 crore from house rent, and Tk2.15 crore from shares, bonds and savings instruments. He has also shown Tk20,000 as income from other sources.

Although he is the owner of several business entities, he has declared himself as an employee of his own business establishments, from which he earns Tk88.23 lakh annually.

For the 2025-26 tax year, he paid Tk94.40 lakh in income tax, while his wife paid Tk3.52 lakh.

The affidavit shows that Mahmud has personal loans amounting to Tk13.56 crore. Of this, Tk12.06 crore has been taken from Rising Industries Limited, while Tk1.5 crore is owed to Active Composite Mills Limited.

The affidavit also includes details of assets and income of his wife, Nargis Akter. Her annual income has been declared as Tk29.37 lakh. She owns total assets worth Tk16.85 crore at acquisition cost, including Tk16.39 crore in movable assets and Tk45.57 lakh in immovable properties.

She has cash holdings of Tk15.32 lakh and bank deposits of Tk15.53 lakh. Her investments in bonds, debentures and the stock market amount to Tk1.96 crore.

She has also declared ownership of 50 bhori of gold, valued at Tk7.88 lakh at acquisition cost, along with electronic goods and furniture worth approximately Tk4.5 lakh.