KPM suffers from fund constraints
Sunday, 3 January 2010
RANGAMATI, Jan 02 (BSS): Karnaphuli Paper Mills (KPM), an industrial unit of Bangladesh Chemical Industries Corporation (BCIC), has been suffering from acute fund constraints as a stock of paper worth about Tk 20 million was lying unsold.
KPM sources said payment of salaries and allowances to workers and employees had also become uncertain due to the fact that more than 2,000 tonnes of paper could not be sold.
The crisis has further aggravated, as National Curriculum and Textbook Board (NCTB), one of the principal buyers of the plant, did not lift 11,000 tonnes of paper it had requisitioned earlier.
Non-delivery of the paper from the warehouse created an extreme space constraint for the new product that might lead to suspension of production at any time.
Admitting the crisis, KPM Managing Director Mohammad Shahidullah said the NCTB is the main buyer of the organisation, which procures paper every year to print text books for primary, secondary, higher secondary classes as well as madrasahs.
The NCTB submitted requisition for about 8000 tonnes last year and 11,000 tonnes this year. The board stopped taking delivery of the papers without informing the KPM.
On the other hand, the authorities failed to supply paper to 200 appointed dealers. The dealers are now reluctant to take delivery of the paper, as they were not supplied paper on time.
KPM sources said payment of salaries and allowances to workers and employees had also become uncertain due to the fact that more than 2,000 tonnes of paper could not be sold.
The crisis has further aggravated, as National Curriculum and Textbook Board (NCTB), one of the principal buyers of the plant, did not lift 11,000 tonnes of paper it had requisitioned earlier.
Non-delivery of the paper from the warehouse created an extreme space constraint for the new product that might lead to suspension of production at any time.
Admitting the crisis, KPM Managing Director Mohammad Shahidullah said the NCTB is the main buyer of the organisation, which procures paper every year to print text books for primary, secondary, higher secondary classes as well as madrasahs.
The NCTB submitted requisition for about 8000 tonnes last year and 11,000 tonnes this year. The board stopped taking delivery of the papers without informing the KPM.
On the other hand, the authorities failed to supply paper to 200 appointed dealers. The dealers are now reluctant to take delivery of the paper, as they were not supplied paper on time.