The Government of Bangladesh has decided to sell assets owned by the troubled Nassa Group in order to meet outstanding wages and service benefits owed to its workforce, officials have confirmed. The move follows directives from the courts and aims to address long-standing labour grievances.
Labour and Employment Adviser Brigadier General (retd) Dr M Sakhawat Hossain made the announcement at a meeting of the Advisory Council Committee on labour and business conditions in the garment sector held in Dhaka. He stated that the decision to sell assets was taken in compliance with the honourable court’s orders, with proceeds to be used to pay legally due wages and other benefits to workers across the group’s establishments.
Hossain noted that, through a court-appointed administrator, shares of Nassa Group had already been sold to enable payment of approximately Taka 76 crore to workers. He added that under directives from Bangladesh Bank, the group had made down payments to eight of its creditor banks, but that further asset sales would be required to settle the remaining down payments and workers’ arrears.
Nassa Group, a major player in Bangladesh’s ready-made garment and textile industries, has faced significant financial distress in recent months, leading to factory closures and widespread unpaid wages. Workers have staged protests over delayed payments, particularly in export processing zones, where large numbers of employees were owed service charges, provident funds and other entitlements.
The court-ordered asset sales are expected to be conducted through open competitive bidding. Authorities and representatives from several government ministries, Bangladesh Bank and commercial banks attended the advisory committee meeting.
Industry observers see the government’s intervention as an effort to balance labour rights with broader economic stability in Bangladesh’s garment sector, which remains central to the country’s export economy.
