Prime Minister Kamal al-Ganzouri’s Cabinet on Wednesday approved the proposed operational regulations for the application of the maximum wage law, beginning retroactively in January 2012. The law sets the maximum wage at 35 times the minimum wage for public servants, consultants and experts working on a permanent or temporary basis. The wage includes the basic salary along with any bonuses or allowances.
In a joint press conference attended by the ministers of petroleum and industry on Wednesday, Finance Minister Momtaz al-Saeed said, “The cabinet discussed the issue of maximum wages, which was issued under Decree Law 242 of 2011.”
“The cabinet reviewed the memorandum presented by the Finance Ministry in coordination with the Central Agency for Organization and Management concerning private cadres, public sector companies and banks, and each body or institution will declare its maximum wage,” he said.
“Private cadres” is a new system in which state employees are promoted based on their qualifications.
Saeed went on to say that anyone who received an annual salary exceeding the maximum wage would be required to return the excess money.
Translated from Al-Masry Al-Youm