Workers of Standard Ceramic Industries, listed on the stock market, staged a protest rally and sit-in program to collect dues and open the factory. On Monday (August 19), they staged a sit-in program at the factory premises of the company located at Chikdana in KB Bazar area of ​​Gazipur.

When asked about this, company secretary Jamaluddin Bhuiyan told to press that we are aware of the workers’ movement. But I don’t know exactly how many months of salary they owe. I know that some amount of money is owed. Basically, it was not paid because our company did not have enough money.

Regarding the solution, he said, our management board is currently out of the country. After talking to them, we will try to come to a decision to meet their demands soon.In response to the question whether there is a plan to transfer the ownership of the loss-making company, the company secretary of Standard Ceramics said, “We are not thinking about it at the moment.” Rather, I am focusing on starting production. Trying to figure out how to get started.

After the dictator Sheikh Hasina fled the country on August 5, people of various professions are holding protests and sit-in programs across the country in view of various demands. Among them, the collection of outstanding dues of the officers and employees of financial institutions, illegal dismissal is quite significant. This time, the workers of Standard Ceramics have taken a position in front of the factory to demand the recovery of the outstanding salary and the opening of the factory.

According to sources, Standard Ceramics has not paid any dividend to investors for the last two years. As a result, the company is placed in the list of Z category or weak companies as per the rules. Apart from this, the company has paid a nominal dividend of 1 percent per share in the previous two years as well. It can be seen that the company’s share price has decreased by 52 rupees in the last two years due to reduced investor interest.

In the financial report, the company still blames the impact of Corona, the Russia-Ukraine war, the increase in gas prices, but it is not really effective. Rather, losses are piling up due to prolonged shutdown of production and insufficient steps taken to restart it. Standard Ceramics has not given any clear information about the resumption of production even though it blamed the lack of gas-electricity supply for the latest announcement of the factory shutdown.