Considering the sheer volume of Beximco's debt, the government does not think it's feasible to reopen the textile and garment factories that were taken out of production by the group, Labour Adviser Brig Gen (retd) M Sakhawat Hussain said yesterday.

"Although the employees of the group are demanding the reopening of the closed production units, it cannot happen now because these factories have so much debt that it's no longer viable to have them in operation," he said at a press conference at the Secretariat in the capital.

The adviser said Beximco Group's total bank debt stands at over Tk 40,000 crore, including Tk 29,925 crore taken against 32 factories in Beximco Industrial Park.

"Of those 32 factories, 16 exist only on paper. But these factories were used [as collateral] to take loans."

And of the total debt, Janata Bank alone is owed Tk 23,285.42 crore.

In December last year, Beximco laid off thousands of workers across its 16 textile and garment units, citing a decline in work orders from international clothing retailers and brands.

Currently, three factories are in operation.

Since September last year, the government has disbursed Tk 223.43 crore as financial assistance to Beximco Group so that it may pay dues to its laid-off workers and face the crisis.

The government is now preparing to pay the salary for January.

Meanwhile, the adviser also said the vandalism and road blockades carried out by protesting workers were unacceptable and that action would be taken against them.

The laid-off workers and employees of Beximco textile and garment units at a press conference yesterday morning urged the government to reopen the factories and reinstate their jobs.

The employees demanded that the government facilitate the opening of letters of credit so that the mills could import raw materials, operate the factories, and repay bank loans.

"The owners of the group are eager to resume operations of the 16 textile and garment factories," said Md Abdul Kaium, head of personnel administration at Beximco Garment Division, at the press conference.

Beximco, one of the most talked-about industrial giants in Bangladesh, landed in hot water following the ouster of the Awami League government in early August last year.

Banks curbed finances owing to the default of a huge amount of loans, alleged to have been taken by the group using the influence of its Vice Chairman Salman F Rahman, who was an influential adviser to deposed prime minister Sheikh Hasina. Salman is now behind bars.