ICU fears massive job cuts
The Industrial and Commercial Workers Union (ICU) is warning of massive job cuts if lasting solutions are not found for the current economic challenges which are impacting negatively on business.
The General Secretary of the ICU, Mr Solomon Kotei, in an interview with the Graphic Business said already about 560 unionised workers had lost their jobs as a result of the worsening energy crisis, government’s failure to reduce fuel prices and the tumbling nature of the local currency against the major foreign currencies.
“If the trend continues, the 774 companies that form part of the ICU have all threatened to lay off some of their workers in order to be able to stay in business,” Mr Kotei stated.
Operational difficulties
He said companies needed power to produce and because the government was unable to solve the current power crisis, the companies needed to operate on generator sets, which is an additional cost to production.
The ICU General Secretary indicated that the union did not understand why the National Petroleum Authority (NPA) had refused to use the automatic adjustment formula when fuel was reduced on the international market.
He said when fuel price was US$113 per barrel, it was sold at GH¢13 per gallon, but it now had dropped to US$42 per barrel, and yet a gallon is still being sold at GH¢13.
“The union is just surprised at the government’s attitude to make money from its own citizens and labour will soon put pressure on government,” he said.
He stated that the union was of the view that if government was really compassionate about the citizens of the country, this was the time a gallon of fuel should be sold at GH¢8 per gallon in order to enhance the hardship that has engulfed the whole country.
He said the government’s inability to save the local currency from falling against the major international currency was also a key factor affecting industries in the country, since most of the companies import raw materials for their production. — GB
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