Egypt extends Eni's oil and gas concession in Suez Gulf, Nile Delta to 2040    Egypt, India explore joint investments in gas, mining, petrochemicals    Egypt launches National Strategy for Rare Diseases at PHDC'25    Egyptian pound inches up against dollar in early Thursday trade    Singapore's Destiny Energy to invest $210m in Egypt to produce 100,000 tonnes of green ammonia annually    Egypt, South Africa discuss strengthening cooperation in industry, transport    Egypt's FM discusses Gaza, Libya, Sudan at Turkey's SETA foundation    UN warns of 'systematic atrocities,' deepening humanitarian catastrophe in Sudan    Egypt's Al-Sisi ratifies new criminal procedures law after parliament amends it    Egypt launches 3rd World Conference on Population, Health and Human Development    Cowardly attacks will not weaken Pakistan's resolve to fight terrorism, says FM    Egypt's TMG 9-month profit jumps 70% on record SouthMed sales    Egypt adds trachoma elimination to health success track record: WHO    Egypt, Latvia sign healthcare MoU during PHDC'25    Egypt, India explore cooperation in high-tech pharmaceutical manufacturing, health investments    Egypt, Sudan, UN convene to ramp up humanitarian aid in Sudan    Egypt releases 2023 State of Environment Report    Egyptians vote in 1st stage of lower house of parliament elections    Grand Egyptian Museum welcomes over 12,000 visitors on seventh day    Sisi meets Russian security chief to discuss Gaza ceasefire, trade, nuclear projects    Egypt repatriates 36 smuggled ancient artefacts from the US    Grand Egyptian Museum attracts 18k visitors on first public opening day    'Royalty on the Nile': Grand Ball of Monte-Carlo comes to Cairo    VS-FILM Festival for Very Short Films Ignites El Sokhna    Egypt's cultural palaces authority launches nationwide arts and culture events    Egypt launches Red Sea Open to boost tourism, international profile    Qatar to activate Egypt investment package with Matrouh deal in days: Cabinet    Omar Hisham Talaat: Media partnership with 'On Sports' key to promoting Egyptian golf tourism    Sisi expands national support fund to include diplomats who died on duty    Madinaty Golf Club to host 104th Egyptian Open    Egypt's PM reviews efforts to remove Nile River encroachments    Al-Sisi: Cairo to host Gaza reconstruction conference in November    Egypt will never relinquish historical Nile water rights, PM says    Egypt resolves dispute between top African sports bodies ahead of 2027 African Games    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Russia says it's in sync with US, China, Pakistan on Taliban    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Slapdash min wage raises lead to inflation, PM warns
Published in Almasry Alyoum on 05 - 05 - 2010

At a meeting with the Egyptian Trade Union Federation on Wednesday, Prime Minister Ahmed Nazif said that any increase in the national minimum wage must draw on solid financial resources so as not to cause inflation.
"We raised wages for [state-run] information center workers when we found them to be unrealistically low," Nazif said, promising that the government would meet the demands of all protesting workers as long as they were justified.
"The president always instructs the government to safeguard workers' rights," he said. "The first thing the president did after recovering from surgery was to celebrate May Day with the workers," he added, noting that the president had "good news" to tell them.
Nazif stressed that there were "no problems" with new investors buying public-sector companies under the rubric of the national privatization program. "We only have a few longstanding issues that we are still in the process of resolving," he said, asserting that the government would continue to support the textiles sector and help employees of the Maasara Telephone Equipment Company obtain early retirement packages.
Labor representatives present at the meeting requested that Nazif order more bonuses paid out to workers in different areas of the public sector, including the Ministry of Endowments and the state-run press. They also asked him to amend legislation regulating joint ventures to ensure that workers received profit-sharing benefits.
The prime minister promised to study the requests, which, he said, "don't contradict our policies."
The finance ministry, for its part, agreed to 37 out of 38 requests made by workers' representatives pertaining to the new social security bill.
"It took us three years to come up with this bill," Finance Minister Youssef Boutros-Ghali said at the meeting. "It's a comprehensive law that can serve for another 75 years--not only ten years, like the current one."
Translated from the Arabic Edition.


Clic here to read the story from its source.