Labour advisor warns Premier Bank over ‘loan adjustments’ using workers’ wages

Labour Advisor M Sakhawat Hussain has issued a stern warning against Premier Bank, accusing it of withholding incentive funds meant for workers’ salaries and instead using the money to “adjust outstanding loans”.

Speaking at the Secretariat on Thursday, Sakhawat criticised the bank’s actions and demanded the immediate release of the funds.

“I am telling the MD of Premier Bank to release the money. The incentive money has been provided by Bangladesh Bank. There is no provision to adjust loans with these funds,” he said.

He further cautioned the bank’s leadership, saying, “You provided the loan for so long—did you remember it then? Now this is the workers’ money. If you don’t pay, then you are here, and I am here too, if I am alive. I will take action against the bank, the branch, and the MD. We will see what measures can be taken now.”

The dispute revolves around funds allocated to TNZ Group’s Apparel Eco factory ahead of Eid to ensure timely wage payments for workers.

The government has arranged for these funds through Bangladesh Bank.

“If Premier Bank does not release the funds, we will assume that they are working against the state, against the government,” Sakhawat warned.

Meanwhile, the labour advisor also addressed concerns about five factories that had been unable to pay their workers ahead of the holiday.

“Now, there is no one who is not paying salaries. Everyone has paid,” he said, adding that business owners previously banned from travelling abroad due to non-payment of wages could now leave the country if they provided proof of full payment.

“This Eid is much better than previous ones,” he remarked.

One notable exception remains Roar Fashion, a factory whose owner, Saifuzzaman Shekhar—an Awami League leader and former Member of Parliament—is reportedly absconding, said the advisor.

“Workers continued production in his absence, but no one remains to pay their wages. That is why we have made arrangements by forming a committee.”

To address the crisis, the Ministry of Labour and Employment has allocated Tk 12.3 million from the emergency account of its Central Fund.

“An arrest warrant should be issued against him [Saifuzzaman],” Sakhawat said.

Discussing TNZ Group’s financial struggles, Sakhawat noted that the factory owner was personally selling his cars to pay workers’ salaries.

“This seems to be a first in Bangladesh,” he said.

According to Sakhawat, Bangladesh Bank has released Tk 110 million to cover the salaries of workers at two factories owned by Mahmud Group.

Additionally, settlements have been reached regarding outstanding payments at Stylecraft and Youngones Limited after discussions with relevant stakeholders.