Karnaphuli Fertilizer Company Limited (KAFCO) has deposited BDT 254.07 million (£1.5 million approximately) into the Bangladesh Workers’ Welfare Foundation Fund, reaffirming its commitment to employee welfare.
The cheque was formally handed over on Monday at the Ministry of Commerce. Industry, Commerce, Textiles and Jute Minister Khandaker Abdul Muqtadir presented the cheque to Labour and Employment Minister Ariful Haque Chowdhury.
Among those present at the event were Md Abdun Naser Khan, Secretary of the Ministry of Industries and Chairman of KAFCO; Mohammad Kuddus Ali Sarkar, Director General of the Bangladesh Workers’ Welfare Foundation; KAFCO Chief Corporate Officer Saidur Rahman; and other senior officials.
Under Bangladesh’s Labour Act, both local and multinational companies are required to contribute one-tenth of five per cent of their annual profits to the workers’ welfare fund at the end of each financial year.