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Wednesday, 19 July 2017

Private sector raise could become mandatory?

Private sector raise could become mandatory? Business associations signed on Tuesday the initiative that would see 18 mn private sector employees receive a 10% hardship raise, AMAY reports. The raise was set at a minimum EGP 165 and maximum EGP 330 a month and companies are being asked to “voluntarily” implementing the raise as of this month.

Contrary to what Labor Minister Mohamed Saafan said last week, the initiative might become mandatory for businesses if decreed by the House of Representatives after they decide on its final value and implementation mechanism, Rep. Mohamed Wahb Allah tells Ahram Gate. The House’s majority Support Egypt Coalition kicked off talk of the raise last week. The minister had explained, though, that the raise agreement would be non-binding, asking businesses to do it in the spirit of corporate social responsibility.

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