The state advisory council has deferred a decision on selling 16 textile and garment factories of Beximco Group, citing the need for further review of financial discrepancies in loan and default data.

The sale is intended to repay nearly Tk 500 billion in loans, over half of which are non-performing, as per Bangladesh Bank’s November data.

A meeting with senior officials of key banks is set for January 27 to clarify inconsistencies. The council is exploring options to sell the factories, located in Beximco Industrial Park, Gazipur, preferably to foreign buyers. However, high debt levels deter potential investors.

Following the August 2024 government ouster, the factories laid off 27,000 of 42,000 workers due to reduced international orders. The council assured that laid-off workers would receive service benefits, with efforts to secure new jobs for them in economic zones.

Workers plan to protest today, demanding the factories remain operational, citing profitability and pending orders from global retailers. Industry leaders emphasize the factories’ potential and urge transparent measures to address the crisis.