Organised labour has called off its intended indefinite strike due to the exemption of pension funds from the Domestic Debt Exchange Programme.
Speaking at a press briefing on Thursday, Dr Yaw Baah, Secretary General of Trade Union Congress (TUC), said government had decided to grant exemption to all pension funds in the Domestic Debt Exchange Programme.
He said, following negotiations between the Congress and the Government, a Memorandum of Understanding (MoU), has been signed between the Ministry of Finance, Ministry of Employment and Labour Relations and the Ministry of National Security to resolve issues on the exemption of all pension funds in the Domestic Debt Exchange Programme announced by Government on December 5, 2022.
He said the exemption will protect workers retirement benefits and create a security on pension funds.
Dr Baah tasked all workers to be at work on December 27, 2022, to ensure smooth operation of workflow. “I officially call off the intended strike. ”
“Government has responded to our call for the exemption of pension funds from the domestic debt exchange programme”.
He thanked the Chairman of Council of State and his team for the intervention which has proved to be very positive.
“We will like to also thank government for listening to us, we thank the Minister of Finance, Mr Ken Ofori-Atta, the Minister of Employment and Labor Relations, Mr Ignatius Baffour Awuah and the Minister for National Security, Mr Albert Kan-Dapaah for their comprehensive response, ”he said.
He said, he hoped that the Government would continue to create the space, bring down inflation and stabilise the country.
The reason for the intended strike was due to government’s introduction of IMF-inspired programmes to solve the economy’s problems.
However, government and Organised Labour shall work together to explore mutual beneficial options within debt sustainability limits, and to also promote macroeconomic stability and economic recovery in the spirit of social partnership.