The Ministry of Communications has offered amnesty to radio stations who were fined for committing various infractions.
The latest move comes after the minister, Ursula Owusu-Ekuful, met Members of Parliament over the matter.
National Democratic Congress MPs have decried the fines as an attempt to monetize free speech.
However, the NCA has received praises for strict enforcement of its laws.
A total of 131 radio stations, both commercial and community, were fined for not renewing their radio license and annual subscription fees.
“Defaulting Commercial FM Broadcasting Stations that were fined by the NCA have also had their fines reduced by 50%. They have 30 days from 20th October 2017, to pay the 50% reduced penalties or have their authorizations revoked,” a statement from the NCA said.
“It is the expectation of the Ministry and the Authority that all defaulting FM stations will take advantage of this opportunity and ensure compliance within the shortest possible time,” the NCA added.
Of the 131, 34 radio stations have had their license revoked.
The statement urged radio stations whose license have been revoked to petition the minister for a review.
"The stations in this category have the option to petition the Honourable Minister for Communications for a review of the revocation of their Authorisation within 10 days from Friday, 20th October 2017. After receipt of their petitions, they will be reviewed on a case by case basis, following which the Minister will determine the applicable sanctions," the statement said.