Business News of 2014-02-28

Unions propose 20 percent hike in minimum wage

Labour Unions in Ghana are proposing a 20 percent increment in the National Daily Minimum Wage for 2014.
The current daily minimum wage is GHC 5.24pesewas.
It was increased by 17 percent from the previous GHC4.48pesewas in 2013.
A minimum wage is the lowest hourly, daily or monthly remuneration that employers may legally pay to workers.
The 20 percent proposal was presented at the second National Tripartite Committee meeting this year following workers’ demands due to increases in utility tariffs and inflation.
Government and employers are expected to consult and present a reaction to the proposal at the next adjourned tripartite meeting on March 12.
Speaking to Citi Business News, the secretary general of the Ghana Federation of Labour Abraham Koomson said: “People should not confuse this minimum wage to mean it is an increment to be added onto people’s wages.”