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Business News of Thursday, 23 July 2020


Coronavirus: Govt to pay laid off workers temporary incomes

Minister of Finance, Ken Ofori-Atta Minister of Finance, Ken Ofori-Atta

The Minister of Finance, Ken Ofori-Atta, has announced that a temporary financial relief programme for persons who lose their jobs as a result of the Coronavirus (COVID-19) pandemic.

Presenting the mid-year budget review to Parliament, the Finance Minister said the scheme to be known as the National Unemployment Insurance Scheme, will be a temporary income and will be paid to workers who were laid off by their employers following the COVID-19 pandemic.

“Government will inject liquidity into the system to ease cash flow difficulties of businesses and protect workers by honouring obligations to contractors and suppliers in a timely manner…Government, through the Ministry of Employment and Labour Relations (MELR), will collaborate with the Social Partners (Labour and Employers) to establish a National Unemployment Insurance Scheme.

“The scheme will provide temporary income support to workers that are laid off and also provide them access to re-training to help them take advantage of employment opportunities in new fields,” Mr Ofori-Atta said on Thursday.

Mr Ofori-Atta added that “the good people of Ghana and indeed, the world, recognize that the President was swift to respond with a US$100M preparedness plan and has since shown bold, decisive and compassionate leadership in navigating this uncertainty with calm and calming authority. 

“Under his leadership, we have instituted a comprehensive emergency plan that is sharply focused on saving lives and livelihoods, averting economic collapse, building resilience and strengthening the pillars of the economic system for a new normal…that is why since 2017 we have spent a total GH?900,531,258.00 in keeping nearly 100,000 trainee teachers and trainee nurses in training. 

“For us governance is all about the wellbeing of the people we have been elected to serve. Ours is the government for the ordinary people of Ghana.”