CAIRO: Mohamed Barakat, the Head of Banque Misr, said on Wednesday, that the bank had not yet received instructions from the government on applying the maximum wage, which was announced by Dr. Kamal Ganzouri, the Prime Minister. The law was due to be enforced since the beginning of this year. The Ministry of Finance said it is currently preparing the necessary rules to implement the decree on the application of the maximum and linking it to the minimum wage. Ayman Gohar, First Undersecretary of the Ministry of Finance, Chief Minister's Office, said the ministry is preparing the necessary rules to implement the provisions of Decree-Law 242 of 2011, on the maximum wage and linking it to the minimum, in preparation to be sent to Ganzouri, for review and approval and issuance as soon as possible. He stressed that applying the maximum wage, which has already come into force from January this year, he said, included all relevant institutions and bodies owned by the public money sector , pointing to the exclusion of private sector companies, investment banks and oil companies and private insurance. Under the Decree issued by the Supreme Council of the Armed Forces, and for determining the maximum wage, equivalent to 35 times the minimum. BM ShortURL: http://goo.gl/SgE6P Tags: Banque Misr, Maximum wages Section: Business, Egypt, Latest News
