Loan default: 9 garment factory owners to face music
Staff Reporter :
Despite taking interest-free loans from the government to pay workers’ outstanding wages, several top garment factory owners in the country are not repaying the money.
For this reason, Labor and Employment and Shipping Ministry Adviser Brigadier General (Retd.) Dr. M Sakhawat Hossain has announced that strict legal action will be taken against those factory owners who violated the loan agreements.
He made this remark while presiding over a meeting at the Secretariat on Wednesday.
The meeting was attended by the Finance Secretary, the Secretary of the Banking and Financial Institutions Division, representatives from Bangladesh Bank, the President of BGMEA, and the owners of the concerned loan-recipient factories.
Adviser Sakhawat Hossain said that since various factory owners failed to pay workers’ dues, the government-through the Finance Division and the Central Fund of the Ministry of Labor and Employment-had provided interest-free loans to Birds Group, TNZ Group, Beximco Group, Dird Group, Niagara Textiles Ltd, Roar Fashion Ltd, Mahmud Jeans Ltd, Style Craft Ltd, and Goldstar Garments Ltd. But these institutions are not repaying the money as per the loan agreements.
In strong words, he said the government will take a tough stance against them. Steps will be taken to seize their passports. Initiatives have already been taken to issue Interpol Red Notices against some fugitive owners. The adviser also instructed that necessary measures be taken to suspend the passports of absconding owners and top executives of the companies.
Dr. M Sakhawat Hossain said: “This loan money is workers’ money and taxpayers’ money. It must be repaid by December this year.
There will be no concessions in this matter.” He further directed the concerned factory owners and their representatives to discuss with their lien banks and repay the entire loan by December, even if it requires selling off company land, factories, or machinery.
In this regard, the labor adviser called upon BGMEA and BKMEA to act as mediators and take effective actions.