Government sells NASSA assets to settle workers’ arrears

Shares worth Tk 760 million have been sold, with more NASSA assets set for court-ordered sale to clear workers’ dues

Workers’ long-overdue wages and service benefits at NASSA Group are being cleared as the company’s assets are sold under court supervision.

The government confirmed that Tk 760 million has already been paid to workers through the sale of shares and properties managed by a court-appointed administrator, with further asset sales planned to settle remaining dues.

Labour Advisor M Sakhawat Hossain shared the update at a review meeting at the Secretariat on Sunday.

In a media statement on Monday, the Chief Advisor’s Office said Sakhawat chaired the 15th meeting of the Advisory Council Committee reviewing labour and business conditions at industrial units in Beximco Industrial Park.

The advisor said, under Bangladesh Bank directives, the group has completed down payments to eight banks.

Further sales of assets will be conducted through open competition under court instruction to complete down payments to the remaining 15 banks and settle the rest of the workers’ dues.

The meeting emphasised the need for rapid payment of workers’ arrears and stability in industrial areas.

It also discussed enhancing coordination among banks, industrial enterprises, and government agencies to prevent similar crises in the future.

After the fall of the Awami League government on Aug 5, 2024, NASSA Group Chairman Nazrul Islam Mazumder went into hiding.

He was arrested on Oct 2 and faces several cases of corruption and embezzlement.

Unrest spread across the group’s factories as wages went unpaid, leading workers to stage protests, human chains, and blockades on the Dhaka–Tangail Highway.

In September last year, a tripartite meeting at the factory inspection department, attended by labour leaders, announced the closure of 16 factories from Sept 25 due to power and gas shortages and a lack of work orders.

As many as 10 factories are in Ashulia, two each in Gazipur, Chattogram EPZ and Cumilla EPZ.

Against this backdrop, the decision to sell NASSA Group assets was taken.

Reports indicate that Mazumder signed power of attorney documents authorising the sale of his Gulshan plot, Ashulia land and buildings, Narayanganj land, company shares, and RAJUK plots.