FILE- Egypt’s Prime Minster Mostafa Madbouly, FILE- Egypt’s Prime Minster Mostafa Madbouly,

Governmental efforts following exceptional pensions raise decision

Mon, Apr. 1, 2019
CAIRO – 1 April 2019: President Abdel Fatah al-Sisi's decision to raise pensions will come into force starting July 1, according to Prime Minister Mostafa Madbouly, who affirmed following all the necessary procedures.

In a Monday ministerial meeting, Madbouly discussed all the regulations and procedures needed to start applying the decision. Social Solidarity Minister Ghada Waly and Minister of Finance Mohamed Maait attended the meeting.

Madbouly affirmed that the meeting tackled all the procedures needed in order to start discussing the draft law in the Cabinet meeting scheduled for this week.

President Sisi announced a number of decisions aimed at alleviating the impact of inflation on millions of citizens. That was during the Egyptian Womens' Day ceremony held on Saturday to honor women and ideal mothers.

The minimum wage of public employees – who amount to 5.2 million - will rise from LE 1,200 to LE 2,000. An exceptional raise worth LE 150 will be granted to public employees to face inflation.

Pensions will increase by 15 percent with a minimum of LE 150, with the minimum pension amounting to LE 900.

The annual raise for employees subject to the Civil Service Bill will be 7 percent of the base pay.

The exceptional raise for employees not subject to the Civil Service Bill is worth 10 percent of the base pay with a minimum of LE 75.

The president commented in Egyptian Arabic in the middle of his formal speech on the hike in prices. He called upon citizens to boycott commodities with unaffordable prices, explaining that traders will have to reduce the prices if sales plummet. The president added that the government is exerting efforts to indirectly adjust the prices but “it is difficult in a country with a population of 120 million citizens.”

There are no comments on this article.

Leave a comment