Bangladesh: Primark pays additional £6m to Rana Plaza victims
Date: 17 Mar 2014
British retailer Primark has said that it will pay an additional sum of compensation to the victims or their families of the Rana Plaza factory collapse which affected one of their suppliers New Wave Bottoms. It had already paid over £1m.
The company will pay most of that sum directly to those affected, with a tenth put into a communal compensation fund. It has expressed a desire that payments should be made as quickly as possible, but has been held back by the ILO which is keen to ensure that there is a proper process to ensure that none of the victims are missed out.
Prior to Primark's donation, less than $5m had been paid, well short of the $40m estimated to be needed. Campaigners said that they hoped that Primark's move would put pressure on other companies to meet their moral obligations to workers that had suffered for being in their supply chain.
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In a recent article, the BBC's economics editor Robert Peston highlighted the fact that in 2012 the chances are that the economy - punch drunk as it is from the various flavours of debt crisis it has been pummelled with over the course of the year - will be hit by the collapse of a major bank and / or government.
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