The National Tripartite Committee has pegged the new minimum wage at GH¢3.73 from the previous GH¢3.11. The committee after weeks of stalled negotiations was able to increase the figure by 20 percent.
The new wage will take effect from Tuesday February 15, 2011.
At a news conference to announce the new figure, Deputy Minister of Employment and Social Welfare, Antwi-Boasiako Sekyere urged institutions and organizations whose daily minimum wage is below the new figure to adjust their wages upward accordingly.
“The National Tripartite Committee recommends that the national minimum wage should be tax exempt. The National Tripartite Committee reiterates its commitment to the improvement of incomes and productivity in both the private and public sectors” the Deputy Minister said.
The wage increase follows a 30% upward review of prices of petroleum prices last month, with an attendant increase in transport fares, which led to an erosion of workers’ real wages.
Leadership of the Ghana Trades Union Congress (GTUC) and the Ghana Employers Association, have both expressed their satisfaction with the new wage level. TUC General Secretary, Mr. Kofi Asamoah told Citi News that the negotiations involved painstaking analysis of any proposed increase on industry and arrived at the 20 percent figure after considering all views from all parties.
He said as workers, they would have wished that the amount was pegged at Gh¢4, but they had to compromise and accept the new figure due to other factors.
The Chief Executive Officer of the Ghana Employers Association, Alex Frimpong said workers would have to work harder to increase productivity to make up for the increase in their wages.