¢485m paid as CoLA – CAGD reveals

• Posted on August 30, 2022August 30, 2022
• by Nana Kwesi Coomson
• Comment

An amount of ¢485 million has been paid as Cost-of-Living Allowance (CoLA) by the Controller and Accountant General’s Department (CAGD).

The CAGD made the announcement in a statement on Monday August 29.

“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.

“The COLA which represents fifteen percent (15%) of the 2022 basic salary was paid for the months of July and August. The total amount paid for COLA for the two months is Four Hundred and Eighty-Five Million Ghana Cedis (GH¢485,000,000.00),” the statement said.

The Government and Organised Labour ealier reached a consensus over the cost of living allowance workers were been demanding since May.

At a crunch meeting held on Thursday, July 14, the two parties and their various representatives agreed on a 15 percent CoLA.

Organised Labour had initially demanded a 20 percent allowance, for which some worker unions proceeded on strike.

But after deliberations, the workers have agreed to accept 15 percent as COLA for the next few months.

This is expected to cushion them in the face of the rising cost of living in the country.

By Laud Nartey