Education Minister Dr ANM Ehsanul Haque Milon has said retired private-school teachers and employees have finally begun receiving long-awaited retirement and welfare benefits.

Speaking at the inauguration of a programme to distribute benefits from the Private Teachers and Employees Retirement and Welfare Trust at the Osmani Memorial Auditorium in Dhaka on Saturday, the minister said the government has allocated nearly Tk2,100 crore on the prime minister’s directive.

Under the initiative, 70,019 teachers will receive retirement benefits, while around 53,000 teachers will receive welfare benefits, he said.

“Today will remain an important day in the nation’s history. On the birthday of the motherland, we are wiping away the tears of teachers who have waited for their dues. This is also a matter of joy for us,” Milon said.

He said beneficiaries under the welfare trust would receive up to Tk600,000.

However, the minister acknowledged that the government could not pay all outstanding dues at once. He said the remaining amounts would be paid in phases.

Milon also alleged that around Tk7,000 crore had been misappropriated from the sector under the previous government. He said recovering some of the money kept in various banks might be difficult, although the government was taking steps to recover funds deposited with state-owned banks.

He said teachers had been contributing 6% and 4% to the respective funds, while the trust currently holds assets, including government bonds, worth around Tk88,000 crore.

Income generated from these assets would be used to gradually clear the remaining dues of beneficiaries, he said.

“The Retirement and Welfare Trust has begun this journey with 123,000 beneficiaries. From next year, the remaining dues of teachers will gradually be paid,” the minister said.

Recalling the history of the welfare trust, Milon said the initiative was launched from the recognition that teachers who play a vital role in nation-building deserve more than a small token of appreciation after retirement.

He credited former prime minister Khaleda Zia with initiating the process, saying the trust initially received Tk14 crore and later Tk89 crore to begin its operations.

The minister also said former president Ziaur Rahman had introduced a system under which private-school teachers received 50% of their salaries, while initiatives to honour teachers were also launched during his tenure.

“The government will continue taking necessary initiatives to improve the education system. Alongside clearing the long-standing dues of private teachers, we will work to ensure their dignity and better facilities,” Milon said.