An organisation of freedom fighters has demanded that the government revoke its decision to give up the marketing rights of Coca-Cola products in Bangladesh for only Tk1.24bn.
The United Coordination Council of Freedom Fighters (UCCFF), in a press release yesterday, said the government’s decision to cancel a deal between Coca-Cola and state-owned Tabani Beverage, a concern of Muktijoddha Kalyan Trust, would affect disabled freedom fighters who benefitted from the arrangement.
The government on December 29 approved a proposal allowing US-based multinational beverage giant, the Coca-Cola Company, to invest directly in Bangladesh by terminating the agreement with Tabani as its marketing company.
“Although Tabani Bevarge invested around Tk12bn to build up a countrywide network to market Coca-Cola, the government gave its nod to cancel the agreement with the company on condition of getting only Tk1.24bn as compensation,” said the press release, signed by UCCFF coordinator Raza Miah.
The UCCFF claimed that the government cancelled the agreement after getting a proposal from Coca-Cola to invest only US$50m, which would be detrimental to the interests of freedom fighters.
“The freedom fighters and their families were getting support of Tk160m annually for treatment, education and marriages of their children from the profits of the (beverage) business. It was a completely profitable business for the trust until 2004. But it was shown as a losing concern from 2005,” Raza said in the release.
The government shut down Tabani Beverage in 2008 on the grounds that the company employing 235 people was incurring huge losses.
A proposal by the liberation war affairs ministry approved by the cabinet committee on economic affairs last month said Coca-Cola Company was ready to pay $16m to clear off all outstanding debts of Tabani Beverage Co Ltd.
