Govt to close down 12 Beximco companies, sell mortgage shares of Pharma, Shinepukur

Among the firms, 11 are in the export-oriented textile and ready-made garment sector

The government has decided to completely shut down a total of 12 laid-off companies associated with the Beximco Industrial Park and sell mortgage shares of another two listed firms – Beximco Pharmaceuticals Ltd and Shinepukur Ceramics.

The decisions were taken at a meeting of the "advisory council committee on the review of labour and business conditions of companies in the Beximco Industrial Park" formed by the interim government.

According to one of the five decisions taken at the meeting, the legal dues of the affected workers tied to the closed businesses will be paid by February.

The decisions were announced through a press release from the public relations wing of the Ministry of Labour and Employment following the meeting held at the Secretariat’s shipping ministry on Tuesday.

On the other hand, it has been decided to take necessary measures to sell the mortgaged shares of listed Beximco Pharma and Shinepukur by meeting the concerned offices, including the Securities and Exchange Commission, on Sunday, the release read.

In addition, the government decided to take departmental action, including the dismissal of the Beximco “receiver”, who is currently in charge, for not implementing the committee's decision.

Of the 12 laid-off companies in the Beximco Industrial Park in Gazipur’s Kaliakair, 11 are from the export-oriented textile and ready-made garment sector.

It was also decided at the meeting that Bangladesh Bank would look into whether there was any irregularity in the loan distribution of Beximco Group.

The committee formed over the entities linked to Beximco Industrial Park held six meetings so far on the matter.