Parliament has passed the Fair Wages and Salaries Commission Bill, which is aimed at meeting international best practices in the labour market.

The passage of the bill would ensure equal pay for equal work and eliminate adhoc wage and salary adjustments’ negotiations.

A Finance Committee report said: "The Commission, once created will be fully responsible for ensuring fair, transparent and systematic implementation of government public service pay policy..."

It would also undertake negotiations for the conditions of service of public servants who are remunerated from the consolidated funds.

The bill provides for avenues to seek redress through the Grievance Review Committee, the Board of Commission and the National Labour Commission.

It would also create an atmosphere of industrial harmony with the potential to attract investment into the country for development.

The House earlier passed the Banking (Amendment) Bill, which would facilitate the establishment of International Financial Service Centers in the country to provide international banking services for customers resident in other countries than Ghana.

The benefits that the country would derive include inflow of foreign deposits in foreign currency leading to foreign direct investment and growth.