Manpower minister calls for price control law

Minister of Manpower Ahmed Hassan al-Borai, at a symposium on Tuesday, called for a unified law regulating wages and prices in Egypt.

“The government controls wages and leaves prices to free-market supply-and-demand fluctuations,” Borai said. “This creates the gap.”

The minister also explained that it is difficult to set a maximum wage for public bank employees. “We would then lose them, as they would go join the private banks,” he said.

Safwat al-Nahas, head of the Central Agency for Organization and Administration, said the maximum wage would only be applied to public-sector employees, as the government cannot force it on the private sector.

He added that the maximum wage for government employees would be based on their relative experience, responsibilities and the inflation rate.

Translated from the Arabic Edition

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