Sunday, August 20, 2017 | ePaper

Walton pays Tk 40m to Workers' Welfare Fund

  • Print
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.

More News For this Category

Global stocks stumble on Spain attacks, White House turmoil

AFP, London :Global stock markets sank Friday as traders sought haven investments such as gold following a terror attack in Barcelona that sent airline share prices down.The deadly attack

China encourages PPP in elder care

Xinhua, Beijing :China has said it will encourage public-private partnership (PPP) in the senior care industry.Wider use of PPP should introduce more private investment into the elder care industry,

Reducing US trade deficits in NAFTA renegotiations could prove difficult

Xinhua, New York :Renegotiations on the North American Free Trade Agreement (NAFTA) will hardly reduce the overall U.S.  trade deficit and unemployment, experts said.The United States, Canada and Mexico

Fitch upgrade Greece debt, sees steady improvmen

AFP, Washington :Credit rating agency Fitch on Friday upgraded Greece's debt by a notch, citing what it called an improving outlook and amid expectations the country's debt sustainability will

Spain attacks impact brief tourism: Experts

AFP, Paris :The attacks in Catalonia may hit tourist numbers, but the recent experience of other European countries hit by jihadist violence suggests it will likely be brief, industry

Prame Anondo, Vice-President of Appolo Tale Health Service, inaugurating the Super Specialist Tale Clinic at BTI Landmark Crystal Corporation with Super Modern Technology on Saturday. Mohammad Ullah, Chairman and Asfiq Ahmed, Chief Financial Officer of Crystal Health Service were also present.

Prame Anondo, Vice-President of Appolo Tale Health Service, inaugurating the Super Specialist Tale Clinic at BTI Landmark Crystal Corporation with Super Modern Technology on Saturday. Mohammad Ullah, Chairman and Asfiq Ahmed, Chief Financial Officer of Crystal Health Service were also present.

.

Ahmed Kamal Khan Chowdhury, Managing Director of Prime Bank Limited, poses after visiting the construction work of the project of Birds A&Z Limited at Gorai in Mirzapur recently. The bank financed the project. Syed Nazmul Huque, EVP of Commercial Banking Division of the bank, Eng. Mustafa Anwar, Chairman and Nazmus Shariar Saadat Anwar, Managing Director of the engineering farm were also present.

Ahmed Kamal Khan Chowdhury, Managing Director of Prime Bank Limited, poses after visiting the construction work of the project of Birds A&Z Limited at Gorai in Mirzapur recently. The bank financed the project. Syed Nazmul Huque, EVP of Commercial Banking Division of the bank, Eng. Mustafa Anwar, Chairman and Nazmus Shariar Saadat Anwar, Managing Director of the engineering farm were also present.

.

385 RMG factories may face unrest before Eid

Business Desk :Some 385 industrial units across the country have been identified as 'vulnerable' to labour unrest over the payment of wages and festival allowances ahead of the Eid-ul-Azha,

PriyoShop.com arranges Colorful Friday with special discount

Business Desk :PriyoShop.com, the country's first tier e-commerce site has organised the first-ever biggest online sales event in Bangladesh namely Colorful Friday Powered by Mastercard, says a press release.

Islami Bank observes Nat'l Mourning Day

Islami Bank observes Nat'l Mourning Day

Business Desk :Islami Bank Bangladesh Limited observed the 42nd martyrdom anniversary of the Father of the Nation Bangabandhu Sheikh Mujibur Rahman and National Mourning Day with due respect and