Government spends ¢485 million on COLA for July and August, 2022

Controller and Accountant-General's Department (CAGD)
Controller and Accountant-General's Department (CAGD)

The Government of Ghana has spent GH¢485 million on payment of Cost of Living Allowance (COLA) for July 2022 and August 2022 to public sector workers across the country.

In a statement issued by the Controller and Accountant-General’s Department, confirming the payment said, the total amount paid for COLA for the two months is Four Hundred and Eighty-Five Million Ghana Cedis (GH¢485,000,000.00).

According to the Controller and Accountant-General, Kwasi Kwaning-Bosompem, the payment was made pursuant to the approval given by the Ministry of Finance on 1st August 2022 following the Agreement signed between Government and Organized Labour on 14th July, 2022.

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He explained that, the Controller and Accountant-General has paid the Cost of Living Allowance (COLA) to workers in Public Service Institutions across the country.

Kwasi Kwaning-Bosompem further said, the COLA which represents fifteen percent (15%) of the 2022 basic salary was paid for the months of July and August.

Payment of the approved Cost of Living Allowance (COLA) will be paid until December 2022.

This simply means that, public sector workers will receive the COLA for September, October, November and December 2022 after which the agreement will expire.

SOURCE: Coverghana.com.gh

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