Export earning of Standard Group crosses $300 mn

Economic Correspondent, Apr 8: The yearly export earning of the Standard Group stood at $3OO million, a media release from the company said on Tuesday.

The fit was attained due to reputation that the company achieved for the honesty of the company management and the sincerity of its workers, Chairman of the Company Engr Atikur Rahman claimed.

In a bid to overcome the losses incurred due to devastated incidence of tire at nine factories last year, Standard Group is working hard to regain its capacity to return to production for exporting apparels, the statement said.

Starting its business n 1983 with one RMG unit named Standard Garments. The company was able to expand its business and it gradually setup 19 organizations. He added in its way to struggle for revival, it is now facing hurdles as a quarter is active to destroy its image, he alleged The conspirators, with an evil intention, have started spreading false and fabricated news as they want to create hurdles so that Standard Group, that has employed 50,000 workers, cannot regain its capacity to return to production, the chairman alleged and sought cooperation of all concerned.

Defying the misinformation that Standard Group`s insurance claim of Tk lOO crore was rejected, Engr Aiikur Rahman said the survey organiations re-insurance company Sadharan Brma Corporation (SBC) and SBC`s re-insurance company Broker Triser of England are yet to submit final estimated loss claim of Standard Group to its insurance company.

It is mentionable here that Prime Minister Sheikh Hasina made a visit to the factory premises immediately after the accident. Bangladesh Bank pledged to provide loan lo the company at a lower rate. The Group exports readymade garments to the US, EU countries, Canada and Japan.

The companies housed in Standard Group compound first claimed Tk. 454 crore, which was later estimated at Tk 337 crore under the insurance deal, the companies took insurance coverage and policy after paying due premium from Standard Insurance Co.

risingbd/Augustin Sujan