|
|
 |
 |
 |
| Friday, 4 June 2004 |
 |
|
 |
Business | |
| News Business Features Editorial Security Politics World Letters Sports Obituaries
|
Call to reach agreement to acquire Kabool Lace by Sudarshana Perera A prospective local entrepreneur engaged in the apparel and textile sector is ready to restart operations of Kabool Lace (Pvt) at Mattegama if Trade Unions agree to demand the due payments including EPF and ETF from their previous employer. The Chairman of the factory who wished to remain anonymous said that if the relevant bodies could come to an understanding or settlement on this vital issue, they are willing to start operations soon and run the factory at a profit while catering to local and export demands. "We will have a separate management to oversee the factory and would guarantee their employment. We are also looking for some expansion and acquiring of the factory would allow us to increase our production capacity. The factory also finds it difficult to cater to our orders on time since the demand for fabric has been increasing", he said. He said that if the government and trade unions do not work fast to find a solution, an attempt to re-start the factory may be discouraged and would ultimately aggravate the situation. A spokesman of Kabool Lace said that their factory was a profit-making institution which was manufacturing quality lace for the Middle East and South Africa with a production of 1.3 million yards per month. He said that due to mismanagement Kabool owed the People's Bank Rs. 27 million , ECB Rs. 7.4 million and interest amounting to Rs. 760,900 on EPF. He said that ETF has not been remitted for one year with gratuity to the tune of Rs. 38.7 million. Employees had not been paid their salaries for three months before closure. According to trade unions of the factory, they want their workers' dues paid back and they also assure their fullest cooperation to achieve productivity and efficiency in the factory. |
|
News | Business | Features
| Editorial | Security
Produced by Lake House |
