Organised labour has called off its intended indefinite strike following government’s decision to exempt pension funds from the Domestic Debt Exchange Programme.
The latest development comes after a crunch meeting with government spearheaded by the Ministry of Finance, Ministry of Employment and Labour Relations and the Ministry of National Security on Thursday.
Addressing the media after the meeting, Secretary General of Trade Union Congress (TUC), Dr Yaw Baah confirmed that all pension funds would be exempted from the government’s announced Domestic Debt Exchange Programme.
Through a Memorandum of Understanding (MoU) between the government and Organised Labour, a seven-member committee was formed after the meeting to explore technical solutions to bring the debt threshold back to sustainable limits.
The Committee comprised four representatives from government and three representatives from Organised Labour. They are expected to submit a report on December 28, according to a 3news report.
“We believe that Government and Organised Labour can work together in the spirit of social partnerships to resolve all outstanding issues to make the Debt Exchange Programme successful towards restoration of macroeconomic stability and economic recovery,” the MoU stated
Dr. Yaw Baah therefore told journalists, “Government has responded to our call for the exemption of pension funds from the domestic debt exchange programme”.
“We will like to also thank government for listening to us, we thank the Minister of Finance, Mr Ken Ofori-Atta, the Minister of Employment and Labor Relations, Mr Ignatius Baffour Awuah and the Minister for National Security, Mr Albert Kan-Dapaah for their comprehensive response, ” he remarked.
After a seven-day ultimatum to government to exempt all pension funds from the debt restructuring exercise elapsed, organised labour on December 19 announced its intention to strike.
“The advice is very simple. We have all agreed that because the government has refused to grant our request, we have decided firmly that all workers of Ghana are going to strike on December 27, 2022, and we will be on strike until our demands are met.”
But after today’s meeting, organised labour withdrawn the threat.
Dr Baah has therefore tasked all workers to be at work on December 27, 2022, to ensure smooth operation of workflow.
“I officially call off the intended strike, ” he declared.
He said the exemption will protect workers retirement benefits and create a security on pension funds.
The union leader hoped that the government would continue to create the space, bring down inflation and stabilise the country.
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