Gov’t pays GH¢485m COLA
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The Controller and Accountant General’s Department (CAGD) has made payment of GH¢485 million as Cost of Living Allowance (COLA) for public workers for the months of July and August.
This was disclosed in a press release dated August 29, 2022, signed by the Controller and Accountant General, Kwasi Kwaning-Bosompem in Accra.
The payment follows agreement between government and Organized Labour on July 14, 2022 after the latter embarked on a strike action which pushed the former to agree to a 15 percent increase on basic salaries of public sector workers as COLA to cushion them on the loss in the value of their incomes due to rising inflation and high cost of living.
Organized Labour had initially demanded a 20 percent pay rise as COLA. However, after negotiations with government, it was agreed that there will be 15 percent increment in their basic salaries.