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Salary Cut of Officials: Government to Save GHC3.5 Billion – Ofori-Atta
The Minister for Finance, Ken Ofori-Atta has said the government will save about GHC3.5 billion from the 30% salary cut of ministers and heads of state-owned enterprises (SOEs).
Addressing the country on measures being taken to curb the economic challenges, Ofori-Atta said, “With regards to savings, in terms of our initial calculations of all of that [salary cut] will be about GHC3.5 billion that we expect to be able to save.”
“But we’ll keep titrating and tightening it to ensure that we get as much from that,” he added.
Cabinet earlier approved that ministers and the heads of SOEs contribute 30% of their salaries from April to December 2022 to the Consolidated Fund.
Members of the Council of State have also agreed to a 20% cut in their monthly allowances for the next one year in support of efforts aimed at stabilising the economy.
According to the Council of State, the move is their widow’s mite in support of the total efforts towards the economic recovery move by the government.