2500 textile employees to take up VRS

FE Team | Published: July 28, 2007 00:00:00 | Updated: February 01, 2018 00:00:00

Naim-Ul-Karim
The Bangladesh Textile Mills Corporation (BTMC) has made the services of about 2500 officials, employees and workers redundant under voluntary retirement scheme (VRS) from 1st August.
"We have already accepted applications of 2500 out of 3400 employees and workers of the 11 state-owned textile mills opting for VRS," a high official of the Bangladesh Textiles Mills Corporation (BTMC) told the FE.
Earlier, BTMC authority suspended operation of nine out of its 20 textile mills offering voluntary retirement facility to all the workers and employees of those units.
With the latest move, the BTMC, which started functioning with 72 textile mills just after the war of independence in 1971 and added 24 more textile mills to its strength.
However, an official source said the relevant ministry has been requested to provide Tk 1.50 billion to BTMC for making payments to those who have been selected for VRS.
"We are expecting that the ministry of finance will soon provide fund to settle all dues," he further said.
Official source said more than half of the employees and workers, who have opted for VRS, will be hired on daily basis, whenever needed, to continue partial production in the mills.
When asked, he said the purpose of such production is to keep the machinery in running condition.
Sources said the privatisation commission is likely to float tenders for selling these mills to private owners soon.
"So far we know, the authority concerned have appointed some chartered accountancy (CA) firms for assessment of the asset and liabilities of the mills prior to inviting tenders for selling those,"
Official source in BTMC said they are operating nine textile mills under own arrangement.
The textile mills are Amin Textile Mills unit-2 in Chittagong, Dost Textile Mills in Feni, Barwani Textile Mills in Nilphamari, Sundarban Textile Mills unit -1 and 2 in Satkhira, National Cotton Mills in Chittagong, Dinajpur Textile Mills in Dinajpur, Bengal Textiles Mills unit 1 and 2 in Jessore, Valika Woolen Mills in Chittagong.
Sources said the government decided in principle to trim manpower in public sector jute mills by 50 per cent to make the state-owned mills commercially viable.