Minister of Finance Mohamed Maait has said that an annual package of EGP 150bn was allocated to increase the wages of state workers and pensions, starting next April.
The minister added that the minimum for the total increases decided for state workers will not be less than EGP 1,000 per month, explaining that a minimum limit for the total income of state workers for the sixth grade and its equivalent has been approved at EGP 3,500 per month, and the third specialized degree at EGP 5,000 , EGP 6,000 for holders of MSc and EGP 7,000 for holders of PhD.
He said that the estimated annual cost of increasing the minimum wage for state workers and private cadres amounts to EGP 14bn.
The minister indicated that this package includes approving a periodic bonus of 8% for those who are addressed by the Civil Service Law, with a minimum of EGP 125, and a 15% special bonus for those who are not addressed, with a minimum of EGP 125, and increasing the additional incentive with lump sum financial categories of EGP 300 for the sixth, fifth and fourth grades, EGP 400 for the third, second, and first degrees, EGP 500 for those holding the positions of general manager, undersecretary, and first undersecretary.
The minister indicated that the package also includes an increase in medical professions allowance categories by amounts from EGP 400 to 475, so that the categories granted range from EGP 1100 to 1700 for doctors and nursing staff, in addition to doubling the categories of night shifts and overnight stays for members of the medical professions, and doubling the emergency incentive granted to those who work in departments. The package also includes an increase in the performance incentive for teachers in Education and Al-Azhar Al-Sharif by an amount of EGP 300, and an increase in the quality incentive for faculty members in universities, institutes and research centers by an amount of EGP 300 per month.
The minister explained that the state’s public treasury bears about EGP 8 to raise the tax exemption limit on annual income by 25%, from EGP 24,000 to EGP 30,000.
The minister indicated that the financial categories granted to the beneficiaries of “Takaful and Karama” programs increased by 25% per month, starting next April, at an annual estimated cost of EGP 6.5bn, pointing out that the package includes EGP 55bn annually to increase the pensions disbursed to their owners and beneficiaries by 15% and a minimum of EGP 170 and a maximum of EGP 1,635.