The NTC, comprising government, organized labour and the Ghana Employers Association (GEA) has finally agreed on a new Daily Minimum Wage of GHC 6 from the current GHC 5.24. The increase represents about 14.5 percent.
After deep negotiations, government also agreed to give public sector workers 10 percent of their basic annual salary as Cost of Living Allowance (COLA).
The package came after a marathon meeting of the National Tripartite Committee Wednesday April 30, 2014.
The parties are expected to issue a joint communiqué on Friday.
It will be recalled that the Trades Union Congress (TUC) recently threatened to announce a series of actions if the minimum wage is not announced by or before May 1, 2014.
Government through the Finance Ministry earlier in the year announced a freeze in wage increments for 2014 in the budget.
Meanwhile, Ghanaian Workers will join the rest of the world to mark May Day today. This year’s May Day celebration is under the theme “Ghana’s economy, a concern for all”.