Policon Limited, a plastic product manufacturing company in Gazipur, has announced an indefinite shutdown of its factory due to the dollar crisis and failure to import raw materials for over a year.
The management put up a closure notice at the main gate of the factory in Konabari, under the City Corporation area on Thursday morning.
The notice, signed by the Executive Director of Policon Limited Faisal Zahir said that the production had dropped by 80% since June 2023 due to excessive load-shedding and the inability to import raw materials for over a year.
The notice assured workers and employees that all outstanding salaries would be cleared in phases within the next three months as per Bangladesh Labour Law.
Additionally, the notice mentioned that the company had been unable to pay bank loans, overdue salaries, gas bills and electricity bills properly for the last two and a half years.
As a result, the 40-year-old establishment was forced to shut down indefinitely from January 9.
Saiful Islam, a helper from the cutting section, said: “I have been working here for 17 years. Even yesterday, we worked our shifts. This morning, we found the closure notice at the factory gate. Four months of salaries are unpaid.”
Jahangir Alam, a worker in the mechanical section, expressed his despair, saying: “I have worked here for 37 years. The sudden closure leaves my family and me on the brink of starvation. The authorities could have paid our dues before shutting down the factory. Salaries for January, February, November and December of last year remain unpaid.”
Repeated attempts to contact Faisal Zahir, the executive director of Policon Limited, were unsuccessful.
Inspector Morshed Zaman of Gazipur Industrial Police-2, Konabari Zone, said that discussions with the management have been held.
He claimed that November’s salaries would be paid on Sunday.
Further discussions with the workers on Monday will determine the payment of all remaining dues.
Industrial police are stationed at the factory to maintain order, and the situation remains under control.