Labour and Employment Adviser M. Sakhawat Hussain issued a severe warning to Premier Bank, threatening legal action if the bank does not release the Bangladesh Bank’s cash incentive fund for the pay of textile workers in time for the impending Eid festivities.
The warning follows reports that Premier Bank has been reallocating funds meant for worker salaries to offset a previous loan taken by Apparels Eco of TNZ Group, leading to protests from workers demanding their overdue wages and bonuses.
During a media briefing at the secretariat, Sakhawat emphasised the urgency of the situation, stating, “You will have to release the money. If you do not disburse it and if your bank does not comply, then you will have to bear the responsibility.” He further asserted that he would consider filing a criminal offense against the bank’s managing director if the payments were not made.
“This money was provided to the bank specifically for the purpose of paying workers’ salaries—there is no provision for loan adjustments with these funds,” Sakhawat added. He warned that failure to release the funds could lead the government to perceive the bank and its owners as acting against the state.
Mohammad Imran Iqbal, who recently took over as chairman of Premier Bank after his father, former Awami League lawmaker HBM Iqbal, stepped down, and his brother Moin Iqbal, who also resigned as vice-chairman, are now under scrutiny.
The situation remains tense, with garment workers continuing to voice their frustrations over the unpaid salaries as Eid approaches.
