Business News of Wednesday, 9 October 2013

Source: radioxyzonline

We can’t grant your request gov’t replies TUC

Government says it is impossible to grant the request of Trades Union Congress (TUC) over the recent tariff increment.

The TUC has given government 10 days ultimatum to reduce the tariffs by one third or face its wrath.

The Public Utilities Regulatory Commission (PURC), announced tariff increments of 78.9 percent for electricity and 52 percent for water last month. The price changes took effect from October.

The opposition parties, the Trades Union Congress (TUC), the Association of Ghana Industries (AGI), the Ghana Medical Association (GMA), amongst a raft of other civil society organizations, have all kicked against the hikes.

Deputy Information Minister Felix Kwakye Ofosu tells XYZ News the demand will interfere with ongoing negotiations between the vice President and aggrieved labour unions over the tariff adjustments.

“I am not able at this moment to state categorically that government would respond in a manner that organized labour is asking it to do. What I can say is that government certainly is interested in ensuring efficiency and has always insisted that it continues to make the right investments in order to ensure that through generation to transmission to distribution we are also able to achieve a level of efficiency that will beat down cost considerable”, he noted

Meanwhile, the TUC says it will weigh its options if government does not slash the tariffs.

Secretary General Kofi Asamoah tells XYZ news organized labor can no longer bear the burden of spontaneous utility hikes.