House committee approves EGP 300 bonus for public sector workers, pensioners
House committee approves public-sector, pensioner bonuses: The House Manpower Committee approved yesterday disbursing a EGP 300 bonus in November to public-sector employees and pensioners. The amendment is part of a broader package of measures announced by the government last week to mitigate the impact of the EGP float which is set to further raise the cost of living and pile more pressure on the public.
What they said: "This is the second bonus in less than six months and aims to help vulnerable classes to bear the high cost of living triggered by global economic crises," the committee’s chairman, Rep. Adel Abdel Fadil, said. Some 4.6 mn state employees and 10.5 mn pensioners will benefit from the bonus, which will cost the state in total approximately EGP 48.4 bn (about EGP 32 bn for state employees and EGP 32 bn for pensioners).
What’s next: The bill will land in the House’s plenary session tomorrow and is set to be passed the same day.
SENATE APPROVES TIGHTER CONTROLS ON TELECOM EQUIPMENT-
Senators yesterday signed off on legislative amendments that would tighten controls on telecom equipment considered a threat to national security. Changes to the 2003 Telecommunications Act approved by cabinet in July would ban the possession, import and manufacture of certain types of equipment without a license. Lawmakers have not publicly announced what types of equipment would be banned by the legislation.