Business News of 2014-05-15

TUC cautions gov’t on retrenchment of public sector workers

The Trade Union Congress is asking government to address all the inefficiencies in the public pay roll before going ahead to retrench some workers.

Government would from next year start laying off some public sector workers as part of efforts to enhance productivity and reduce the rising wage bill. This was contained in government's home grown policy submitted to the International Monetary Fund (IMF).

According to the 2013 provisional fiscal data, the country spent about 7.1 billion Ghana cedis on wages and compensation.

Secretary General of the TUC, Kofi Asamoah tells Joy Business unless these concerns are addressed it might not be prudent to go ahead with this exercise.

“We have ghost names, and if we have ghost names it means people who are not working are being paid which have shore up the wage bill.

If you want to really deal with the huge wage bill, of course you may be reconsidering all these problems, but our caution is that we may have to find out the real cause of the problem as against rushing to retrench only to find out that the problem persists.”