Wage restructure in six months: Minister of Planning
Minister of Planning Ashraf al-Araby - YOUM7/Sami Waheeb

CAIRO: The Ministry of Planning in the next month will finish a comprehensive plan for administration reform that includes restructuring wages, Minister of Planning Ashraf al-Araby said in a Saturday press conference, several media outlets reported.

The wage restructuring will be implemented by the end of 2014.

In a Wednesday meeting, the Cabinet agreed on a decree by President Abdel Fatah al-Sisi to apply the maximum wage for all state entities.

A government source told Youm7 that the maximum wage will be applied at the Egyptian Central Bank, public banks and petroleum companies.

Sisi announced last Tuesday at a Military Academy graduation ceremony that he takes the maximum wage salary but will personally decline half of his salary to donate it to assets to boost the Egyptian economy.

In related news, Araby said at the news conference that petroleum products will also be re-priced in the new fiscal year to improve the fuel subsidy system.

Sources within the Ministry of Petroleum gave conflicting statements about the increase of fuel prices in the coming period.

An official source told Al-Shorouq Friday that the government decided to restructure the subsidy system on petroleum products and those products will increase by 1 EGP ($0.13) per liter.

But, a source at the Ministry of Petroleum told Akhbar Al-Youm Friday the ministry had not issued an official decision to increase prices and that earlier media reports were untrue.

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