• 19:09
  • Monday ,06 January 2014

Maximum wage could be capped at $6,000

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Monday ,06 January 2014

Maximum wage could be capped at $6,000

CAIRO: Prime Minister Hazem al-Beblawy met on Sunday Minister for Administrative Development Hany Mahmoud to discuss regulations that would cap the maximum wage at 42,000 EGP (U.S. $6,027) per month.

Minister Hany Mahmoud stated in a press release at the Cabinet that the decision would be applied to employees of the petroleum sector, economical institutes, judiciary police, the army and all the governmental bodies. He said the wage ceiling would apply to banks in the second stage of implementation.
Mahmoud said that the ministry would apply the maximum wage to only 8,500 public employees per year. Additionally, he said that charities are not considered state governmental bodies.
He added that the National Council for Wages is still discussing with the private sector how to apply the minimum wage on private companies, adding that the government is serving as mediator.