Tuba owner seeks loan

  • Staff Correspondent, bdnews24.com
    Published: 2014-08-24 18:36:33 BdST

Tuba Group Managing Director Delwar Hossain has sought a loan of Tk 300 million to reopen his closed factories.

He is currently out on bail granted on the condition that he would clear his workers’ dues.

Delwar had been arrested after a devastating fire at Tuba-owned Tazreen Fashions killed more than a hundred workers in 2012.

He said at a conference in Dhaka on Sunday: “If I get a soft loan of Tk 250 or 300 million, I’ll be able to reopen the factories that will be able to produce US $4/5 million worth of exportable goods.”

Delwar claimed a financial crisis had forced the closure of his factories. But, according to media reports, he had shut down Tuba Textile, Tayeb design, Mita Design, Bookshan Garments and Tuba Fashions on August 18 on the pretext of labour unrest.

Tuba’s workers claimed that Delwar deliberately delayed their payments in order to get bail.

Earlier, police had charged baton on Tuba Group workers on hunger-strike and cleared the factory compound on Aug 7. Workers’ payments were later made under BGMEA mediation.

Delwar, who was behind bars for the Tazreen Fashions fire, got bail from the High Court after promising to pay his workers’ pending wages.

Delwar also said, “I’ve no more property to sell. Since my release, I sold a printing press built on 18 kathas (about 12,960 sq ft) of land, a 9-katha (6,480 sq ft) land and all the machines of the press. I got Tk 50.38 million, of which Tk 30 million went in loan repayment to leasing companies and the rest was spent to pay the salaries of workers. I still have a debt of Tk 5 million.”

On reopening some few factories, the Tuba owner said: “If I can’t start all the factories, things will further deteriorate.”

He also urged other RMG owners to employ the workers of the closed Tuba Group.