Dhaka, Jan 28 (V7N) — Labor Advisor M. Sakhawat Hossain announced that employees' dues at Beximco will be settled by selling the company's shares. The Finance Department, in coordination with the Securities Exchange, will facilitate the necessary measures to ensure payment.

Speaking to reporters after a high-level meeting with the Finance, Commerce, and Home Affairs advisors at the Secretariat, Sakhawat Hossain stated, "All employee dues, amounting to approximately 550 to 600 crore taka, will be paid by February as per legal provisions."

The meeting reviewed the current labor and business situation at Beximco Industrial Park. The advisor also confirmed that all factories laid off by Beximco would be permanently closed. Additionally, three administrators overseeing operational institutions will be replaced, and non-compliance with government directives by any administrators will result in strict action.

Highlighting financial irregularities, the labor advisor revealed that Beximco's total loans stand at 40,000 crore taka. Of this, loans against 32 factories amount to 29,925 crore taka, while loans worth 12,000 crore taka were issued to 16 non-existent companies. An investigation into these loans will be conducted in mid-February to uncover any irregularities. "If wrongdoing is found, action will be taken against those responsible," he assured.

This move aims to address both labor concerns and financial discrepancies at one of Bangladesh's largest conglomerates.

END/MSS/AJ