KJML, FCML closed down with Tk 450m delinquent loan
Sunday, 5 August 2007
Our Correspondent
CHITTAGONG, Aug 4: Extent of debts of Karnaphuli Jute Mills Ltd (KJML) and Forat Carpet Mills Ltd (FCML), sister concerns of Bangladesh Jute Mills Corporation (BJMC) based at Rangunia Upazila of the district, is around Tk 680 million. These two mills have already been closed down, incurring the burden of bank loan worth Tk 450 million.
According to the concerned sources, the two mills received loan amounting to Tk 80 million only from the Agrani Bank Agrabad branch in 1980. But they have not refunded any installment of the loan since then. As such, extent of loan on calculating interests rose to Tk 450 million up to this July.
Now the extent of debts have exceeded the value of movable and immovable properties of these two mills. Auction was invited for selling KJML twice in the past, but it was not sold.
Besides bank loan, total amount of outstanding dues payable to the workers, employees, officials of these two mills are around Tk 110 million and extent of total amount of debt on different heads is around Tk 130 million.
Despite closed down permanently, workers and employees of the mills have not been paid their salaries for the last 11 months. Uncertainty still looms large over payment of their salaries and arrears.
According to the mill authority sources, they, however, assured them of repaying their dues, while workers and employees cannot get rid of the state of disappointment.
CHITTAGONG, Aug 4: Extent of debts of Karnaphuli Jute Mills Ltd (KJML) and Forat Carpet Mills Ltd (FCML), sister concerns of Bangladesh Jute Mills Corporation (BJMC) based at Rangunia Upazila of the district, is around Tk 680 million. These two mills have already been closed down, incurring the burden of bank loan worth Tk 450 million.
According to the concerned sources, the two mills received loan amounting to Tk 80 million only from the Agrani Bank Agrabad branch in 1980. But they have not refunded any installment of the loan since then. As such, extent of loan on calculating interests rose to Tk 450 million up to this July.
Now the extent of debts have exceeded the value of movable and immovable properties of these two mills. Auction was invited for selling KJML twice in the past, but it was not sold.
Besides bank loan, total amount of outstanding dues payable to the workers, employees, officials of these two mills are around Tk 110 million and extent of total amount of debt on different heads is around Tk 130 million.
Despite closed down permanently, workers and employees of the mills have not been paid their salaries for the last 11 months. Uncertainty still looms large over payment of their salaries and arrears.
According to the mill authority sources, they, however, assured them of repaying their dues, while workers and employees cannot get rid of the state of disappointment.