Embattled Beximco Limited has announced another round of layoffs citing a lack of work orders, a decision that affects nearly 8,000 workers across five manufacturing units in its industrial park in Gazipur.
The government yesterday asked the banks that financed the embattled Beximco Group to submit information regarding the collateral kept by the group against the loans..The directive was given at a meeting among the secretaries of some ministries and senior officials of nine banks..At
The government is trying to find jobs for 40,000 laid-off workers of Beximco Group in factories within the Bangladesh Export Processing Zone Authority (Bepza) and the Bangladesh Export Zones Authority (Beza), a senior labour ministry official said.
The authorities of Beximco could not be reached for comment as they did not respond to phone calls.
It follows a directive from the finance ministry
The government has decided either to sell the ownership of a good number of Beximco Group companies or find entrepreneurs to lease these units out.
The group's inability to open new LCs has forced its factories to halt production
He also said that legal action would be taken against the S Alam Group chairman and other officials for their alleged crimes in the banking sector
The authorities have promised to clear the dues by November. But the workers have not agreed to wait till then
Beximco Ltd has raised 32.5 million euros from Dutch financial institution ING Bank in order to expand its knit fabric facility, said a press release today.
Bangladesh’s first ever green sukuk brought in by Beximco gets go-ahead from the stock market regulator today.
The Transparency International Bangladesh (TIB) has called upon Bangladesh Bank to refrain from a self-defeating move that would grant a top-ranking defaulter for rescheduling Tk 430cr loan.
Beximco Ltd got its way, yet again. The central bank went out of its way to accept Beximco’s request for rescheduling demand loan of Tk 430.05 crore, and in so doing, created a moral hazard for the banking sector.
YELLOW by BEXIMCO and BGMEA University of Fashion & Technology (BUFT) organised 'Fashion Fest 2019' at BUFT's permanent campus in Ashulia on 20 March, 2019.
