BJMC wants waiver of TIN for savings certificates

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The state-run Bangladesh Jute Mills Corporation has requested the government to waive requirement of taxpayers’ identification number for purchasing national savings certificates for workers of 25 closed jute mills as part of the golden handshake programme. 

BJMC chairman Md Abdur Rauf on Tuesday said that an appeal for waiving the requirement of TIN for buying savings certificates against the workers’ names was under consideration of the Directorate of National Savings as most of the workers had no TIN.

The waiver is imperative to begin the distribution of golden handshake benefits as early as possible, Rauf told New Age.

The government recently closed down all the 25 jute mills under the BJMC and announced golden handshake to 24,886 regular and around 25,000 irregular workers.

It decided that the golden handshake programme would be completed in one year and it kept aside Tk 5,000 crore in the current budget.

The textiles and jute ministry announced that the workers would be given half the golden handshake benefits in cash and other half in national savings certificates.

There is an estimate that a worker in general will be benefitted with Tk 13.86 lakh while the maximum benefit for a worker will be Tk 54 lakh.

The BJMC chairman said that they were also working to synchronise the payment to be made through bank accounts.

He said that he had already held meetings with Financial Institutions Division officials and the state-owned banks to make a comprehensive plan.

On August 24, the BJMC submitted a demand for allocation and a list of workers for the golden handshake benefits in a report to a five-member committee under the finance ministry.

BJMC officials said that they demanded an allocation of Tk 6,600 crore.

Finance ministry additional secretary Sheikh Mohammed Salim Ullah, who is leading the five-member committee, said that they were examining the BJMC demand.

He said that the main task of the committee was to ensure smooth fund transfer to the beneficiaries under the golden handshake programme.

He also said that the committee had already sent the BJMC recommendations to the authorities concerned. 

Earlier in 2002, the government ran one of the biggest golden handshake programmes when it gave Tk 300 crore to around 25,000 workers with the closure of the country’s first and the largest jute mill, Adamjee Jute Mills.

The cumulative loss of the BJMC stood at Tk 106.74 billion in the fiscal year 2018–19 because of alleged corruption and mismanagement by the operators over years.

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