Walton Hi-Tech Industries PLC, a leading electronics manufacturer and superbrand in Bangladesh, has contributed approximately Tk 3.93 crore to the Bangladesh Workers’ Welfare Foundation under the Labour and Employment Ministry.
This payment is derived from the company’s profits for the financial year 2022-23.
On Thursday, July 4, 2024, a nine-member delegation from Walton, headed by Additional Managing Director Nazrul Islam Sarkar, presented a cheque to State Minister for Labour and Employment Md. Nazrul Islam Chowdhury. The handover ceremony took place at the Bangladesh Secretariat in the capital.
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Other notable attendees included Labour and Employment Secretary Md. Mahbub Hossain, Walton Hi-Tech’s Deputy Managing Director Yousuf Ali, Senior Executive Directors Sharif Harunur Rashid and Sadekur Rahman, Additional Executive Director Hafiz Ullah, and Deputy Operative Director Minhaj Uddin.
As mandated by the Labour Act, companies are required to allocate 5 percent of their net profit from the previous year to three specific funds: the Participatory Fund, the Welfare Fund, and the Workers’ Welfare Foundation Fund, in an 80:10:10 ratio, as per the Bangladesh Workers Welfare Foundation Act.
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Continuing this tradition, each Walton employee received Tk 19,838 from the profit share fund for FY 2022-23, with Tk 11,903 disbursed immediately and the remainder retained in the Workers’ Profit Participation Fund (WPPF). Out of the total WPPF amount of Tk 39,36,54,464, Walton contributed Tk 393,65,446 to the Bangladesh Workers’ Welfare Foundation Fund.
