Written by Iman Ali Wednesday, October 18, 2023 04:00 AM
Resolve Parliament Final approval of a draft law to determine an increase in the exceptional cost of living allowance for employees subject to the Civil Service Law and state workers not subject to it, and to determine an increase in the exceptional grant for workers in public sector companies and the public business sector, established under Law No. 166 of 2022 and granting pensioners or those entitled to them a grant. Exceptionally, by amending some provisions of the Social Insurance and Pensions Law promulgated by Law No. 148 of 2019.
The draft law comes within the framework of the policy pursued by the state to reduce the burden of living on its workers and pensioners, especially in light of the current developments, which required rapid intervention to reduce the burden on employees and state workers, and reflects the political leadership’s keenness on the importance of sending a global message, which is that the Egyptian state is a state. It is strong, characterized by its resilience despite difficulties, and is capable of meeting the needs of its citizens, facing the repercussions of external crises, and ensuring an acceptable standard of living for workers in the state, in public sector companies, the public business sector, and pensioners.
The annual financial cost resulting from the adoption of the draft law is 18.5 billion pounds for the benefit of state employees and employees, and is distributed in:
– 16.4 billion pounds for workers in the state’s general budget agencies.
-1.2 billion pounds for workers in public economic bodies.
-0.9 billion pounds for workers in public sector companies and the public business sector.
The financial cost relating to the remainder of the current fiscal year, starting from October 2023 until June 30, 2024, is estimated at 13.875 billion pounds.
In its first article, the draft law includes granting employees who are subject to the provisions of the Civil Service Law promulgated by Law No. 81 of 2016, and state workers who are not subject to it, an increase in the value of the exceptional cost of living allowance stipulated under Law No. 166 of 2022 in the amount of 300 pounds/month, to become 600 pounds/month. This increase is part of the supplementary wages or variable wages for each of them, as the case may be.
2023-10-18 01:00:00
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