Labour Union calls for prudent management of economy

The Ghana Federation of Labour (GFL) has called for prudent management of the economy to navigate the state from the current challenges, whether domestically or foreign-induced to ensure better living standards.

Mr Abraham Koomson, the GFL Secretary General, said the pillars of the state must be strengthened through prudent economic policies backed by financial discipline.

He called for an independent investigation into the circumstances surrounding the loss of 60 billion cedis by the Bank of Ghana, which could not be described as an ordinary loss.

“This cannot be classified as an ordinary loss under the current economic dispensation when all Ghanaians, especially public sector workers, are suffering, salaries have depreciated, and prices of goods have gone up. We cannot sit down and watch such huge money being thrown away just like that,” he said.

Mr Koomson, reacting to the amount lost by the Bank of Ghana in an interview with the Ghana News Agency in Tema, said labour unions were calling for an independent investigation and overhauling of the management team and senior officers of the Bank.

He urged the officials to deal with the issues pragmatically as it was unacceptable for the national banking regulator to incur such a loss at a time when the Government was “begging the International Monetary Fund for three billion dollars” to rectify the economic challenges.

He also reiterated the call on labour unions to galvanise for a proactive labour front to effectively and efficiently represent and fight for the interests of workers in the country.

“The labour front must unite and confront anyone, including the Government and the management of establishments, whose actions or inactions are not in the interest of the worker,” he said.

Mr Koomson called for unity on the labour front as disunity had paved the way for successive governments to exploit the divisions for their political interests.