Home / Knowledge / News / Apparel/Garments / Timeline set for settling Rana Plaza beneficiary claims
Timeline set for settling Rana Plaza beneficiary claims
21
Mar '14
The Rana Plaza Co-ordination Committee met on 18 March 2014 and decided the following points and provided further steps for implementing them while authorizing that the decisions taken be made public:
 
-There is a single approach that provides for compensation for 3600 victims or their families; this is the Coordinated Arrangement based on ILO Convention 121 and Bangladesh law. 
 
Primark is taking 100% responsibility for the compensation of the NWB beneficiaries which will be calculated and recognised under the single approach.  (Primark’s methods may result in upwards adjustments or additional financial aid in certain cases.)  A technical arrangement for coordination will ensure for the 600 NWB beneficiaries the same or equivalent results and services as all other beneficiaries.
 
A timeline will be set for all beneficiaries’ claims to be prepared and received within 3-4 months from the start date next week and to be processed within approximately 6 months.  
 
The timeline will include the following:
-March 28: a first batch of beneficiaries (NWB workers) will receive a first installment of compensation directly from Primark (up to 20 per cent or other per cent agreed)
 
Before April 24:
a) a second batch of beneficiaries will receive a first installment of compensation through the Trust Fund following processing of their claims by April 15 and the Coordination Committee's authorization of  awards recommended by the independent Commissioners (up to 20% or other percentage agreed)
 
b)all eligible beneficiaries will receive an advance payment in amount of BDT 50,000 before April 24 (total of USD 2 million), which will be deducted from the total award due to each beneficiary at time of processing.
 
Before 30 April :
-the Committee will reconvene to review the fruits of the intensive resource mobilisation pre-anniversary, and come to decision about the roll-out of future payments and set a time-bound period to proceed with further percentage installments, including by Primark to NWB workers.
 
The Committee noted for the record Primark’s statement that for its purposes 100% pay-out would be optimal before end of May, and agreed that this would be reviewed by end of April.
 

ILO

Must ReadView All

Textiles | On 22nd Apr 2017

Strong rupee & weak trade to affect textile exporters

Textile and apparel exporters' earnings and EBITDA margins will be...

Textiles | On 22nd Apr 2017

Myntra acquires InLogg

With an aim to strengthen supply chain and logistics, Flipkart-owned...

Textiles | On 22nd Apr 2017

Aditya Birla Group launches new variant Liva Crème

After its successful launch of high quality fabric Liva in 2015,...

Interviews View All

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

Subhashini Srinivasan
The S Studio

Ethnicwear market will see an upward trend if uniqueness and quality are...

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search