Reopening of closed Beximco factories not possible due to huge debt: Adviser Sakhawat
“These factories have so much debt against them that they have lost the operational viability,” he said at a press briefing
Reopening the closed factories of Beximco Group is not possible, Labour Adviser Brig Gen (retd) M Sakhawat Hussain said today (23 Jnauary) amid demands from the group's workers, employees, and officials.
"These factories have so much debt against them that they have lost the operational viability," he said at a press briefing of the "Advisory Council Committee on Reviewing the Labor and Business Situation of Industrial Enterprises in Beximco Industrial Park" at the Secretariat.
Highlighting Beximco's debt status, its workers' activities and the government's position on the issues, the adviser said, "On 21 January, employees and workers of Beximco Industrial Park gathered at the Sreepur Mayanagar ground in Gazipur and demanded the withdrawal of layoffs and reopening of factories.
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"They announced that if the factories are not reopened by 3:00pm on 22 January, they will take up a shutdown programme, including blocking the Dhaka-Tangail Highway."
"But they have taken actions like setting fires. This is unacceptable in any way and all of them will be brought under punishment," he added.
Adviser Sakhawat disclosed that "of the 32 factories in the Beximco Industrial Park, 16 have no existence but these factories have been used [as collateral] to take Tk12,000 crore in loans. 12 factories' managements have laid off [workers], which was not a government decision. Three factories are currently running."
The adviser also said in total Beximco Limited's total bank debt is currently over Tk40,000 crore, including Tk29,925 crore taken against 32 factories located in Beximco Industrial Park.
"Of the loans, Janata Bank alone owes Tk23,285.42 crore," he noted.
