retirement and welfare benefits for a long time

. After the financial crisis and the July uprising, the wait for receiving this money has increased due to various complications. More than 85,000 applications of teachers and employees for retirement and welfare benefits are pending. The board has a deficit of about 11,000 crore taka to pay against these applications. And to reduce this crisis, the Finance Ministry has approved the allocation of 2,200 crore taka to the Retirement and Welfare Trust, the Ministry of Education has written to the Senior Secretary of the Secondary and Higher Education Department.

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In this context, two separate consent letters signed by Shahriar Jamil, Senior Assistant Secretary of the Ministry of Finance, were sent to the Ministry of Education on May 24.

In this, Tk 2000 crore (as bonds) was allocated in favor of the Private Educational Institution Teachers and Employees Retirement Benefit Board and Tk 200 crore (as grants) was allocated in favor of the Private Educational Institution Teachers and Employees Welfare Trust to form a 'capital fund'.

The letter allocating funds in favor of the Private Educational Institution Teachers and Employees Retirement Benefit Board states, "In order to provide timely retirement benefits to teachers and employees of private educational institutions, the approval of the Finance Department has been given to allocate 2000 crore taka from the '3631199-Other Grants' sector and 1090101-1200010005911112-Unexpected Expenditure Management' sector of the Finance Department in order to form a 'permanent fund' in favor of '135003400-Private Educational Institution Teachers and Employees Retirement Benefit Board' under the support program of the Secondary and Higher Education Department in the revised budget of the current fiscal year 2024-25. This allocated money will be considered as part of the revised delegation order issued in the current fiscal year 2024-25.

The conditions state that (a)

as per Regulation 6 of the Private Educational Institution Teachers and Employees Retirement Benefits Regulations, 2005, the Board shall invest in profitable government securities/treasury bonds worth Tk 2000 crore as 'permanent fund' in favour of the Board for the purpose of greater illumination; (b) the proof of purchase of securities/treasury bonds shall be sent to the Finance Department within 1 (one) week of purchase; and (c) at the end of the term of the treasury bonds invested from the 'permanent fund' account, it shall be renewed or treasury bonds shall be purchased again and no money from the 'permanent fund' invested in treasury bonds shall be spent for any other purpose. Only the money received as interest shall be deposited in the 'current fund' and expenses shall be met from there.

On the other hand, the letter allocating

funds in favor of the Teachers and Employees Welfare Trust states, "In order to provide timely welfare benefits to teachers and employees of private educational institutions, the Finance Department has given its consent to allocate 200 crore taka from the '1090101-120001000-3911112-Unexpected Expenditure Management' sector of the Finance Department under the '3631199-Other Grants' sector in the revised budget of the current 2024-25 fiscal year under the support program of the Secondary and Higher Education Department to form a 'Capital Fund' in favor of the Teachers and Employees Welfare Trust. This allocated money will be considered as part of the revised delegation order issued in the current 2024-25 fiscal year."