Business News of Monday, 1 January 2007
Accra, Dec. 31, GNA - The Government has launched a new pay structure within a framework which would remove distortions; ensure equity and eliminate unfairness in the system, President John Agyekum Kufuor said in a New Year's Eve broadcast to the nation. He said underlying the unrest on the Labour front were agitations for increased pay, adding that the 93Government had gone ahead to launch a new pay structure within a framework which removes distortions; ensures equity and eliminates unfairness in the system".
He said there have been substantial increases in salaries across board as a first step.
President Kufuor said: 93Henceforth, the governing paradigm of the new framework is equal pay for work of equal value. What is left now is to improve productivity in order to put more money into the national treasury to sustain steady increases in salaries to levels that give greater satisfaction to all."
He said the Government "will be pursuing policies aimed at empowering the citizenry in general, and especially the Private Sector. This Sector must challenge itself to become an important player in the global economy and Government will support it".
President Kufuor said other impending programmes for the year would include the redenomination of the cedi, which he described as signifying the growing strength of both the economy and the currency.
He said under the auspices of the German Head of State, President Horst Kohler, a programme dubbed 94Partnership with Africa Initiative", which is targeted at the youth would launched in Accra.
President Kufuor said the exercise to issue all citizens and permanent residents with national identity cards would facilitate effective planning for national development.