Category: Government
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BoG to circulate upgraded cedi today
The Bank of Ghana (BoG) will today begin the circulation of its enhanced GHS10, GHS20 and GHS50 notes. According to the Bank of Ghana, both the old and the new notes will be used concurrently until the old ones are phased out. New features on the new notes include a gold stripe, a watermark, a…
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Parliament approves tax waiver for 1D1F
Parliament has approved an incentive package and tax waivers for the one district one factory policy despite opposition from the Minority. The package waives taxes on machinery and equipment for operators under the policy and includes corporate tax exemption for five years. The Minority’s main argument against the package is that no amount is mentioned…
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Make SSNIT independent to prevent gov’t interference—Economist
Economist Professor Godfred Bokpin is calling for a policy that will limit the powers of government in appointing the head and Board of Directors of the Social Security and National Insurance Trust (SSNIT) to protect pension funds. President Akufo-Addo during the Workers Day celebration announced that the government will issue a 700 million cedis bond…
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Contractors can no longer vary projects cost by more than 10%
Government has said it is no longer permitted for contractors in the public sector to vary the cost of projects awarded to them by more than 10 percent. The ceiling was captured in the new e-procurement initiative recently launched. The cap on the allowable cost for project variation comes after incidents of costs of projects…
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May Day: Oil workers call for fair salaries among expatriates and locals
As Ghanaians join the world to mark the Workers Day today, May 1, the Petroleum and Chemical Workers Union has called on government to enforce the equal-work for equal-pay sanctioned by the Labour Law. The Western Regional Relations Officer for the General Transport, Petroleum and Chemical Workers Union, Richard Hanson, speaking to Citi News during the May…
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GRA launches policy to prosecute recalcitrant taxpayers
The Ghana Revenue Authority (GRA) will use prosecutions as a major weapon against non-compliance, tax evasion and tax customs fraud. The GRA is, therefore, asking income earning persons, potential and existing recalcitrant taxpayers to amend their ways since its prosecution policy will deal with persons who violate the country’s tax laws. The policy outlines the…
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Single Spine Salary Structure review ‘long overdue’ – Austin Gamey
Labour Consultant, Austin Gamey has backed Organised Labour’s call for a review of the Single Spine Salary Structure. The General Secretary of Industrial and Commercial Workers’ Union (ICU), Solomon Kotei had made a strong case for the review, saying the re-engineering should provide non-discriminatory and fair employee compensation. Mr. Gamey on Eyewitness News supported this call, saying in view…
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Article: Why the monster called “Dumsor” dwells with us Ghanaians– Part 1
Dumsor the Monster “Dumsor is a dreaded name in Ghana, synonymous with the subhuman “Dracula” who sucks human blood and spreads the undead curse along winding roads within the thick, dark and ancient forest and over mountain passes”. The word “Dumsor” is of Ghanaian origin, and in the Akan language it connotes “off and on”…
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Funds of 5 collapsed investment companies safe–SEC
The Securities and Exchange Commission (SEC) has assured customers of five collapsed fund management firms that their investments are safe. Last week, the S.E.C revoked the licenses of the companies for breaching rules guiding their operations. The companies include; Georgetown Capital Partners Limited, Equity Capital Limited, Index Analytics Limited, DM Capital limited and Oxygen Advisory…
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$95m spent between 2013, 2016 without drilling a single oil well – Amin Adam
The Energy Ministry says none of the 13 petroleum contracts signed between 2013 and 2016 for oil exploration was operationalized. The Ministry says the said companies which were contracted by the former government to drill 14 wells spent only $95 million instead of the $890million they were supposed to have spent as stated in the…