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Today.. the application of the minimum wage of 2,700 pounds and an increment of 100 has begun

02:11 PM

Sunday 01 January 2023

Books – Youssef Afifi:

The National Wages Council approved an increase in the minimum wage for workers in the private sector from 2,400 to 2,700 pounds, as of today, Sunday, January 1, 2023.

According to the Council at its recent meeting, the minimum value of the periodic annual bonus applies to the private sector and is effective from the new year 2023, according to the accounting fiscal year for each establishment, at no less than 3% of the insurance subscription wage stipulated in the Social Insurance and Pensions Law, with a minimum of 100 pounds.

Dr. Hala Al-Saeed, Minister of Planning and Economic Development, and Chair of the National Council for Wages, confirmed that the current crises in the context of geopolitical challenges affect the economy in all countries of the world, including Egypt, pointing to the important role played by the federations of the various chambers in cooperation with the National Council for wages in reaching Great consensus on the minimum wage, despite the exceptional circumstances the country is going through.

Al-Saeed referred to the state’s efforts to strike a balance between preserving Egyptian labor and economic entities, and setting an appropriate minimum wage.

The meeting was attended by Dr. Ali Moselhi, Minister of Supply and Internal Trade, Nevin Al-Qabbaj, Minister of Social Solidarity, Hassan Shehata, Minister of Manpower, Major General Khairat Barakat, Head of the Central Agency for Public Mobilization and Statistics, and Major General Jamal Awad, Head of the National Authority for Social Insurance. Video conference Dr. Maya Morsi, President of the National Council for Women, and the heads and representatives of the federations of Egyptian chambers and associations; The Federation of Egyptian Industries, the Egyptian Federation of Tourist Chambers, the Federation of Small and Medium Enterprises Associations, the General Federation of Egyptian Chambers of Commerce, the Egyptian Federation of Investors’ Associations and Institutions, the Egyptian Federation of Construction and Building Contractors, representatives of the General Federation of Egyptian Trade Unions, and a number of experts of the National Wages Council.

For his part, Mohamed Gebran, head of the General Confederation of Egyptian Trade Unions, said that the meeting of the National Wages Council agreed that raising the minimum wage for workers in the private sector from 2400 pounds to 2700 pounds, and the minimum exceptional bonus of 100 pounds, is mandatory for business owners and companies. Private, and there are no exceptions for anyone from the application.

Gebran confirmed to Masrawy that the National Wages Council stressed, during its last meeting in this role, that no company or institution operating in the private sector should be excluded from applying this increase or exceptional bonus, unlike the previous role in which there were exceptions due to the Corona pandemic crisis.

He pointed out that the decision of the National Wages Council during the last round was not binding on private sector companies, but this role is binding on everyone by applying the minimum wage, in addition to that the council is in the process of making social insurance not included in the insurance wage, and this differs from the last round.

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