The Fair Wages and Salaries Commission (FWSC) has held a stakeholder engagement with Chief Executives of State-Owned Enterprises (SOEs) as part of consultations on the transition to the Independent Public Emoluments Commission (IPEC).
The meeting, held on Thursday, September 25, 2026, brought together CEOs, Deputy CEOs, Directors of Finance and Human Resources of over 100 SOEs, as well as representatives from the State Interests and Governance Authority (SIGA), Development Partners and the media.
It formed part of the FWSC’s nationwide stakeholder consultations following President John Dramani Mahama’s declaration of FWSC as an Institution in Transition in March this year.
Addressing participants, the Chief Executive of FWSC, Dr George Smith-Graham, said SOEs remain a critical pillar of Ghana’s public sector wage bill and cannot be left out of the reforms.
He said the current remuneration system is fragmented, with wide disparities and frequent industrial relations tensions, particularly within the SOE sector.
“The new IPEC will provide an independent, professional and evidence-based framework for determining all public sector emoluments, including SOEs, while ensuring fiscal sustainability and equity,” he stated.
SOEs Raise Concerns
During open discussions, some CEOs raised concerns about how the new system will affect the fate of existing Collective Agreements, and the level of autonomy Boards will have in determining market premiums.
In response, Dr Smith-Graham assured them that IPEC will not destroy performance-based incentives but will rather sanitize and harmonize them under a National Emoluments Policy and a National Negotiation Framework.
He said the reform will also introduce a modern nationwide Job Evaluation exercise to establish fair grading and relativity across the public service, and a National Productivity Framework to link pay to performance.
The FWSC says inputs from the SOE engagement will be incorporated into the final draft IPEC Bill, which is expected to be laid before Parliament before the end of October 2026.
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