Exemption of Pension Funds: It was a wise decision – Austin Gamey

Labour expert Austin Gamey has lauded government for yielding to the demands of Organised Labour and exempting pension funds from the newly introduced Domestic Debt Exchange (DDE) Programme.

The decision was taken on Thursday, December 22 after a crunch meeting with Organised Labour.

A memorandum of understanding (MoU) jointly signed by the Minister of Employment and Labour Relations Ignatius Baffour Awuah, Minister of Finance Ken Ofori-Atta and Secretary General of the Trades Union Congress (TUC) Dr Anthony Yaw Baah said: “Government has decided to grant exemption to all pension funds in the DDE Programme.

“GoG and Organised Labour/Associations shall, however, work together to explore mutually beneficial options within debt sustainability limits and to also promote macroeconomic stability and economic recovery in the spirit of social partnership.”

Speaking on Ghana Tonight on TV3 on Thursday, December 22, Mr Gamey said the decision was appropriate.

“[Government] really had no choice particularly because of the enormity of of the pressure that’s been brought to bear on them.

“I think it is a wise thing they did by no matter how it will be described as a wise thing to do at this point in time to yield to the pressures. It is appropriate at this point in time.”

Organised Labour had threatened to proceed on indefinite strike if government did not yield to their demands.

They had scheduled Tuesday, December 27 as date on which to proceed on the declared strike.

Thursday’s decision therefore stalls the intention by the workers to strike.

Source: 3news.com