30% Of Ministers, Heads of SOEs Salaries To Be Slashed Till December- Ofori-Atta
The government has agreed to a 30% wage reduction for all Cabinet Ministers and heads of State-Owned Enterprises, commencing April 2022 till the year ends, according to Finance Minister Ken Ofori-Atta.
The revenue collected from these donations, according to Mr. Ofori-Atta, will be placed into the Consolidated Fund.
The government claims that the policy, which is part of a broader package of measures, will help produce cash domestically to help operate the country’s economy, which is aimed at returning it to pre-COVID-19 levels.
He went on to say that the government will “prioritize ongoing public projects above new initiatives” as part of the new measures to ensure judicious use of the country’s limited resources.
The choice to prioritize continuing public projects above new initiatives, according to Mr. Ofori-Atta, will “improve the efficient use of scarce public monies over the term by completing ongoing or stalled but approved projects.”
Meanwhile, members of Parliament’s Minority Caucus have refused to join their Majority Caucus colleagues and members of the Executive in cutting their compensation by 30% to address the country’s economic issues.