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With COLA Payment To All Public Sector Workers Ending This December, There Is A New Development – [CHECK OUT]

With the payment of Cost of Living Allowance (COLA) to all public sector workers ending December, 2022, there is an emerging development.

The Cost Of Living Allowance (COLA) was introduced to alleviate public sector workers from the extreme economic hardship the country was facing at the time the concerned leaders of the Labour Unions went to the negotiation table with the Akufu-Addo-led NPP Government.

The Labour Unions after the negotiation made it known to the group of workers in question that the payment COLA will end in December.

Public sector workers were granted 15%
Cost of Living allowance base on their Base Pay to cushion them through this hard time
. End of Strike 14th July, 2022.

Emergency meeting held again concludes
15% COLA effective date.

Unfortunately, the 15% COLA Came with a
surprising increase in Tariff, Utilities, and even the performance of the Ghanaian Cedis against the US Dollar and major trading currencies around the globe broke chains, making the whole salary Plus the 15% COLA almost worthless.

Most Public sector Workers are not happy
with this announcement, as they suggest the COLA does not leave the Salary until there is a new salary increment.

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You may hear some Public sector workers
calling for a 40% Salary increment and some demanding their salaries are purged with the US Dollar. In that case when the Cedi even depreciates their salaries will still have some value.

In 2023, if you take the same salary with
even the COLA still on it, you can not survive, prices of goods and services are not the same, inflation is terribly high hence there is the need for Salary negotiations and good increment, so that next year can start with a new and Better salary.

The Salary negotiators are warned to look at the economic Outlook in the future and make an informed decision. They are warned not to make the same mistake they made with the COLA, where agreement was made and the following day Inflation was almost doubled.

Source: MyFrichy.com

Rytee Mourinho

A Blogger and proud José Mourinho’s fan who writes in order to broaden one’s horizon on Educational, Entertainment and Enterpreneurship news. Link up & lets get in touch on my WhatsApp line: 0540-566-247

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