CAIRO: The Cabinet agreed during a Wednesday meeting on President Abdel Fatah al-Sisi’s decree to apply the maximum wage in all state entities.
“It is essential to reconsider the decision to apply a maximum wage rate, at a value of 35 times that of the minimum wage, to avoid losing skilled professionals in government authorities and achieve social equity,” Minister of Finance Hany Kadry said on March 30.
The Cabinet that followed the January 25 Revolution, headed by Essam Sharaf, had approved a draft law for maximum wage to be 35 times the minimum wage. Another resigned Cabinet, headed by Hazem al-Beblawy, also approved a draft law stipulating that maximum wage should not exceed 42,000 EGP but the two draft laws have not been applied since.
During the graduation ceremony of a new batch of Military Academy Cadet on Tuesday, Sisi announced that he takes the maximum wage salary but that he will decline half of his salary and will donate half of his assets to boost the Egyptian economy.
Sisi said every Egyptian citizens needs to give back to the country: “My total salary including the allowance is 42,000 EGP and I will only take half of it.”
The law of the maximum wages states that the income of any employee at the administrative authority in the state should not exceed 42,000 EGP monthly, according to constitution articles that guarantee a fair life, according to several media outlets.
Several prominent figures welcomed the decision of applying the maximum wage.
“Approving the maximum wage is a new step in achieving social justice and a real test for national competencies presented in state institutions,” former PM Mohamed Abu Hamed said on his Twitter account Thursday.
The maximum wages will be applied on the Egyptian Central Bank, public banks, and petroleum companies with no exceptions, a governmental source told Youm7 Wednesday.
The source added that the decision include those who were excluded from the administrative decision of the former Cabinet.
Central Bank of Egypt and public banks applied the maximum wages on January 2013, which used to exceed 100,000 EGP in some public banking institutions.
Tamarod member Mohammed Aziz said on his Twitter account that Sisi’s decree is a respectable decision that will achieve social justice.