Daily News Egypt

Nearly 5 million workers will benefit from minimum income: Ministry of Finance - Daily News Egypt

Advertising Area




Advertising Area




Nearly 5 million workers will benefit from minimum income: Ministry of Finance

Ministry said it is taking “executive measures” to apply minimum income


An Egyptian man holds a sign calling for a higher minimum wage during a protest outside the parliament building in downtown Cairo on May 2, 2010.  Several demonstrations were staged in years leading to the 2011 revolution in demand of a monthly minimum wage of 1,200 pounds. The government’s decision, although aimed to placate workers, was met with decry as living expenses soared, and a maximum ceiling for public officials was not set.  (AFP FILE PHOTO/KHALED DESOUKI)
An Egyptian man holds a sign calling for a higher minimum wage during a protest outside the parliament building in downtown Cairo on May 2, 2010.
(AFP FILE PHOTO/KHALED DESOUKI)

The Ministry of Finance is coordinating with public bodies in order to ascertain how many people within each body will benefit from the EGP 1,200 minimum income and at what cost.

Interim Prime Minister Hazem Al-Beblawi, a former finance minister, announced the value of the figure on 18 September in a press conference, adding that the move would be implemented starting January 2014.

Finance Minister Ahmed Galal said incomes of government employees at different job levels would range from EGP 1,201 to EGP 3740.

Galal said in a press release by the ministry on Tuesday that incomes will be raised by 40 to 60% for some lower rank employees, adding that this percentage decreases moving higher up the ranking system.

He added that over 4.8 million workers will benefit from the minimum income.

Implementing the minimum income will cost the government EGP 9bn for the second half of the current fiscal year and an annual EGP 18bn. The minister had earlier said that the government is committed to working on a maximum income law. The maximum income is set to be 35 times the minimum income.

The announcement of the minimum income was followed by  arguments on whether or not it achieves social justice.

Advertising Area



https://wwww.dailynewssegypt.com/2013/10/29/nearly-5-million-workers-will-benefit-from-minimum-income-ministry-of-finance/
Breaking News

No current breaking news

Receive our daily newsletter
Subscribe