Government has paid over GHS₵480 million as cost of living allowance in 2 months
An amount of GH₵485 million has gone into the payment of the Cost of Living Allowance (COLA) to staff in the public sector in July and August, the Controller and Accountant General Department (CAGD) has revealed.
Government and organized labour reached an agreement for the government to pay a cost of living allowance to labour after several labour unions agitated and embarked on industrial actions to demand it. Organized labour bargained on the back of the deteriorating economic fortunes of the country which it says affected their livelihood.
Read the statement below
GOVERNMENT PAYS COST OF LIVING (COLA) ALLOWANCE
1. Pursuant to the approval given by the Ministry of Finance on 1st August 2022, following the Agreement signed between Government and Organized Labour on 14th July 2022, the Controller and Accountant-General has paid the Cost of Living Allowance (COLA) to workers in Public Service Institutions.
2. The COLA which represents fifteen per cent (15%) of the 2022 basic salary was paid for the months of July and August.
3. The total amount paid for COLA for the two months is Four Hundred and Eighty-Five Million Ghana Cedis (GH¢485,000,000.00).
