Daily minimum wage, COLA increase- Gov’t to sanction organizations that fail to comply

By: Evans Attah Akangla| ignewss|

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The government of Ghana through the National Tripartite Committee (NTC) have concluded negotiations on the determination of the 2023 National Daily Minimum Wage (NDMW) at its meeting held on Wednesday, November 16, 2022, in Accra.

The committee decided on an upward adjustment of the NDMW for employees of the country to GH¢14.88 cedis for the year 2023.

In a communique signed by the Minister of employment and Labour relation Hon. Ignatius Baffuor Awuah, Mr. Dan Acheampong-the president of Ghana Employers’ Association and Dr. Anthony Yaw Baah-the secretary general for Trade Union Congress (TUC) has indicated 10% increments to NDMW effective January 1, 2023

“In determining the 2023 NDMW, the NTC took into account the current economic challenges, cost of living, sustainability of businesses and desirability of attaining higher level of employment, as well as the need for rapid restoration of macroeconomic stability to arrive at the 10% increments which translated into GHS14.88 and Cost of Living allowance (COLA) also raised to 15% against 2023 respectively” The statement explained.

The Committee in the statement directed all organizations, establishments or institutions whose daily minimum wages are below the new rates to adjust accordingly effective January 1, 2023.

The statement further warned that, any establishment, institution or organization that flouts the 2023 NDMW shall be sanctioned in accordance with the law.

The committee however recommended that the year 2023 should be tax exempted.

The determination was based on Section 113 (1) (a) of the Labour Act, 2003 (Act 651).

Earlier in January this year, Ghana’s minimum wage was revised and increased from GH¢12.53 cedis to GH¢13.53 cedis.

The press statement below………….

SOURCE: www.ignewss.com 

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