Wednesday, October 18, 2017 | ePaper

Walton pays Tk 40m to Workers' Welfare Fund

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Business Desk :
Walton paid nearly Tk 40 million to the Workers' Welfare Fund of the Bangladesh government, says a press release.
The company handed over a cheque for the amount to the State Minister for Labour and Employment Md Mujibul Haque Chunnu at secretariat on Tuesday.
S.M. Zahid Hasan, Executive Director and Chairman to the Committee of Workers Profit Participation and Welfare Fund Trust of Walton Group, handed over the cheque of Tk 39,629,131 to the state minister. Walton provided the amount from the profit of the company's 2015-16 financial year.
Senior Labour and Employment Secretary Mikail Shipar, Director General of Bangladesh Workers' Welfare Foundation Fund Dr. Anisul Awal, Additional Secretary of Labour Ministry Abdullah Al Mamun and Joint Secretary Aminul Islam Mia were present on the occasion.  
Executive Directors of Walton Group Amdadul Hoque Sarker, Abul Bashar Howlader and Mohammod Sirajul Islam,  Senior Operative Director Mahmudul Hauqe, Senior Deputy Operative Director Md. Habibur Rahman and Senior Deputy Director Ashik Al Mamun were among others present.  
According to Labour Act, each company has to pay 5% of the net profit of the previous year at the proportion of 80:10:10 respectively to the Participatory Fund, Welfare Fund and Workers Welfare Foundation Fund established under a section 14 of the Bangladesh Workers Welfare Foundation Act, 2006.
Complying with the labour act along with its social responsibility and human values Walton has been sharing its profit each year with the Workers Welfare Fund. The company had paid Tk 30,839,000 last year.

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