National Council for Wages sets minimum levels

In the first meeting held by the National Council for Wages (NCW) Uthman M. Uthman minister of planning and head of NCW affirmed that the council tries hard to achieve fair balance in the relation between the different work parties if their interests came to conflict.

The NCW is concerned with establishing a healthy and correct formula for such a relation.

Uthman said the NCW will - in the near future - determine the minimum levels of wages so as to match with the price levels.

He pointed out to the fact that the NCW plays a significant role under the market economy in regulating the powers of supply and demand in the market.

The NCW is intent as well to set the minimum level for annual bonus that law defines not to be less than 7%. It cares also for studying the cases of the firms whose economic status cannot afford the fixed ratio for due bonuses.

The minister stressed that activating the NCW's role in performing its tasks is done in the framework of an economy relying on businessmen's freedom in action.

On the other hand, members of the NCW emphasized the importance of determining the minimum levels of wages for all sectors; not to confine its role to the private sector alone.

Besides, Ahmed al-Amawi, minister of working labour, said it is important to set time-schedules for offering bonuses in different companies.

He also affirmed the necessity of setting the labour market in Egypt into order so as to regulate the recruiting and training methods.