World Bulletin/News Desk
Finance Minister Ahmed Galal on Monday said that raising Egypt's public-sector minimum wage would cost the government some 18 billion Egyptian pounds (roughly $2.6 billion) each year.
The government, he added, was committed to raising the public-sector minimum wage by the second half of the 2013/14 fiscal year, adding that this would require an additional 9 billion pounds in this year's state budget.
Last September, the government decided to raise the public-sector minimum wage to 1,200 pounds (about $173) a month from a current 700 pounds ($101).
Galal said that his ministerial staff had already drawn up the necessary budget for the planned increase.
He added that the government was in the process of creating a database of the salaries of all public-sector employees in preparation for setting a maximum wage limit as well.
The government had earlier stated that salaries of senior civil servants should not be more than 35 times those of their most junior colleagues.Last Mod: 21 Ekim 2013, 23:55