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Egypt approves 15-percent pay raise for gov't employees
Source: Xinhua |
February 8, 2011, Tuesday
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Online Edition
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EGYPT'S new cabinet approved a 15-percent increase in monthly salaries and pensions for government employees, in an attempt to alleviate people's outrage over the two weeks of protests, the state TV reported yesterday.
The Minister of Finance Samir Radwan said the pay raise, which was approved by the legislative committee of the cabinet to go in effect in April, will cost the public treasury 6.5 billion Egyptian pounds (about US$1.1 billion). The legislative committee agreed upon establishing a fund with 5 billion Egyptian pounds (about US$840 million) to compensate the victims of looting and violence during the protests.
The new cabinet held its first full meeting yesterday under Prime Minister Ahmed Shafiq to coordinate the ministries' efforts in restoring order in Egypt, while President Hosni Mubarak had another meeting earlier with senior officials to discuss the political and economic reforms after the protests.
As the anti-regime protests have raged in Egypt for two weeks, Mubarak and his new cabinet are focusing on restoring normal life for the people, in an effort to ease the political crisis.
The Minister of Finance Samir Radwan said the pay raise, which was approved by the legislative committee of the cabinet to go in effect in April, will cost the public treasury 6.5 billion Egyptian pounds (about US$1.1 billion). The legislative committee agreed upon establishing a fund with 5 billion Egyptian pounds (about US$840 million) to compensate the victims of looting and violence during the protests.
The new cabinet held its first full meeting yesterday under Prime Minister Ahmed Shafiq to coordinate the ministries' efforts in restoring order in Egypt, while President Hosni Mubarak had another meeting earlier with senior officials to discuss the political and economic reforms after the protests.
As the anti-regime protests have raged in Egypt for two weeks, Mubarak and his new cabinet are focusing on restoring normal life for the people, in an effort to ease the political crisis.
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