Meghna Petroleum contributes over Tk5 crore to labour welfare fund
According to Bangladesh’s labour law, one-tenth of 5% of a company's net profit must be deposited in the fund
Meghna Petroleum Limited contributed around Tk5 crore – from its last two years of profit – to the Bangladesh Labour Welfare Foundation Fund under the Ministry of Labour and Employment on Tuesday.
A four-member representative team led by Md Akhter Hossain, general manager of Meghna Petroleum handed over the amount by cheque to State Minister for Labour and Employment Begum Monnujan Sufian at the secretariat office.
Meghna Petroleum deposited the profit of Tk2,45,91,473 from the 2017-18 fiscal year and Tk2,65,98,946 from the 2018-19 fiscal year.
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According to Bangladesh's labour law, one-tenth of 5% of a company's net profit must be deposited in the Bangladesh Labour Welfare Foundation Fund. So far, 176 domestic and foreign firms are contributing to the fund.
So far, around Tk496 crore has been deposited in the fund. Meanwhile, about Tk44 crore has been provided in assistance from this fund to around 10,500 workers in the institutional and non-institutional sectors.
Secretary of the ministry KM Abdus Salam, Director General of the labour welfare foundation Dr Mollah Jalal Uddin, CBA President of Meghna Petroleum Sadiqur Rahman, General Secretary Hamidur Rahman, and Organisational Secretary Nazrul Islam were present on the occasion.
