Latest news with #NationalWagesCouncil
CNA
25-04-2025
- Business
- CNA
SM Lee receives top May Day award from NTUC for 'supreme' contributions to labour movement
SINGAPORE: Senior Minister Lee Hsien Loong received the Distinguished Comrade of Labour Award on Friday (Apr 25) at the May Day Awards ceremony held by the National Trades Union Congress (NTUC). This top award is "conferred on individuals who have made unique and supreme contributions to the labour movement", NTUC said in a media release. "Throughout many years of dedicated public service, SM Lee worked tirelessly to strengthen the tripartite partnership between NTUC and its unions, workers, businesses and the government. "This enabled Singapore to weather economic crises, protect jobs and create opportunities for workers. The harmonious labour-management climate fostered under his leadership helped grow Singapore's economy and steadily improved workers' lives," NTUC added. The May Day Awards, held at the Marina Bay Sands Expo and Convention Centre this year, honoured a record 180 awardees since its inception in 1963, NTUC said. They were given to recognise exceptional union leaders, tripartite partners, workers and organisations for their unwavering commitment and care in championing workers' interests, as well as for making a meaningful impact on the labour movement. On Mr Lee's award, NTUC commended him and his team for working "relentlessly" to protect the economy and safeguard workers' livelihoods through crises, including the 1985 recession, Asian financial grisis, global financial crisis and the COVID-19 pandemic, which then enabled the nation to emerge stronger from each crisis. It also noted that Mr Lee led key workforce initiatives to support continuous education and training, launching the Skills Redevelopment Programme in 2008, laying the foundation for today's SkillsFuture programme. Structural schemes such as the Workfare Income Supplement and the Progressive Wage Model were also introduced and supported by Mr Lee, helping lower-wage workers and improving their work prospects. "Under his leadership, wage growth for lower-income workers remained a regular element of the National Wages Council's annual recommendations," NTUC said. In other areas, some of the workforce transformation initiatives that Mr Lee supported were: The Employment and Employability Institute, which provides workers with job-matching, career guidance and skills upgrading services The Job Security Council, which supports job-matching and placement for displaced workers The Company Training Committee initiative that helps both companies and workers to transform and upskill In seeking to improve workplace safety and to keep both resident and migrant workers safe and protected, significant improvements in workplace safety and health standards" were achieved under his leadership, reducing workplace accident rates and improving working conditions, NTUC added.
Al-Ahram Weekly
13-02-2025
- Business
- Al-Ahram Weekly
Egypt to increase salaries and pensions on 1 July: PM Madbouly - Economy
Egypt's Prime Minister Mostafa Madbouly announced Thursday that salaries and pensions will increase on 1 July as part of a new social protection package to be presented soon to President Abdel-Fattah El-Sisi. The PM announced the news at the weekly cabinet press conference following the cabinet meeting at the New Administrative Capital. The PM explained that the social protection package would be implemented in two phases. The first phase would start in March at the beginning of the holy month of Ramadan. The second comprises increasing salaries and pensions, set to take effect on 1 July. In January, El-Sisi directed the government to introduce a new social protection package in 2025 to help citizens meet the cost of living. During the presser, PM Madbouly added that the National Wages Council (NWC) is monitoring the implementation mechanisms of the new minimum wage in the private sector. Earlier this week, the NWC raised the minimum wage for private sector workers to EGP 7,000, effective 1 March. *More to follow ... Short link:
Jordan News
10-02-2025
- Business
- Jordan News
Egypt raises minimum wage for private sector to 7,000 pounds p...
Egypt announced on Sunday that it would raise the minimum wage for private sector employees to 7,000 Egyptian pounds per month (approximately $139.36), effective from March 1. This decision was made during a meeting of the National Wages Council, chaired by the Minister of Planning and Economic Development, Rania Al-Mashat. اضافة اعلان The council includes several ministers as well as representatives from labor unions and chambers of commerce. The Ministry of Planning and Economic Development stated in a press release that this decision, made based on the directives of President Abdel Fattah el-Sisi, aims to improve the standard of living for citizens and comes "in response to economic changes and their impact on the labor market." Since its introduction in January 2022, the minimum wage in Egypt has gradually increased, from 2,400 pounds, and will reach 6,000 pounds in March 2024. The minister said that this decision "reflects the government's efforts to respond to current economic developments, which will strengthen economic and social stability." She added that the review of the minimum wage "aligns with international standards, as the International Labour Organization emphasizes the need for periodic reviews of the minimum wage to protect the purchasing power of families and absorb gradual economic changes." Earlier, Egyptian Prime Minister Mostafa Madbouly discussed the government's intention to approve a new social protection package, which will include increases in salaries and pensions. (Exchange rate: 1 USD = 50.2300 Egyptian pounds)
Mada
10-02-2025
- Business
- Mada
Govt raises private sector minimum wage, preserves exemptions for businesses
The National Wages Council (NWC) announced on Sunday evening a 17 percent raise in the minimum wage for private sector workers, bringing the official monthly minimum up from LE6,000 to LE7,000. A national minimum wage was set for the first time in 2022, but the government has provided exemptions to thousands of companies that have claimed their financial position makes it impossible to pay workers according to the legal threshold, while a majority of enterprises nationwide are excluded on the grounds they hire fewer than 10 staff. The new increase is set to take effect from March and includes an annual bonus of three percent of the insured wage, or a minimum rate of LE250, according to an NWC member who spoke to Mada Masr on condition of anonymity. Employers will be required to pay social insurance contributions on top of the LE7,000 minimum, the council member said, unlike the April 2024 decision that raised the private sector minimum wage to LE6,000, including employers' social insurance contributions, which meant workers took home less than LE6,000 per month. The LE7,000 threshold is to include in-kind benefits, such as transportation, as was the case in the previous wage hike. The Planning Ministry also noted that, for the first time, the council has set a minimum wage for hourly work at LE28 per hour. The decision was reached largely by consensus, the wage council member told Mada Masr, though some business representatives from the Federation of Chambers of Commerce had pushed for a smaller increase. Employers still have the option to apply for exemptions in cases of financial hardship. Under the new decision, however, exemption requests will no longer be submitted to the NWC, but to the relevant employers' federation. The previous decision, which took effect last May, allowed employers to seek hardship exemptions while maintaining past policies that counted all wage components — such as commissions, bonuses, allowances, profit shares and in-kind benefits — toward the minimum wage. It also applied only to businesses with more than ten employees, effectively excluding 98.9 percent of economic establishments, as Mada Masr previously reported. According to a report by the Center for Trade Union and Workers Services, when the minimum wage was first set at LE2,400 in 2022, 3,090 companies across 30 sectors were granted exemptions. These included ready-made garments and textiles — especially export-oriented firms — as well as in tourism, paper manufacturing, retail industries, some private schools, securities companies and some retail stores. Sunday's decision marks the first time the private sector minimum wage has been raised ahead of its public sector counterpart. Another NWC source told Mada Masr on Saturday that the government is expected to announce a similar decision within days.
Zawya
10-02-2025
- Business
- Zawya
Egypt raises minimum wage for private sector
Egypt's private sector minimum wage will rise to EGP 7,000 from EGP 6,000, effective 1 March 2025. The National Wages Council also introduced a minimum EGP 250 periodic bonus and set the first-ever minimum hourly wage for part-time workers at EGP 28 net. The council made these decisions following President Abdel Fattah Al-Sisi's directives, taking into account economic conditions and their impact on the labour market. These changes aim to promote social justice and improve citizens' living standards, according to officials. Planning and Economic Development Minister Rania Al-Mashat chaired the National Wages Council meeting that addressed the private sector minimum wage. During the meeting, Al-Mashat reviewed recent economic indicators, highlighting positive growth in the last quarter of the 2023/2024 fiscal year and its continuation into the first quarter of 2024/2025. She noted the non-oil manufacturing sector's shift from contraction to growth, reflected in a rising industrial production index. Al-Mashat pointed to private sector investments comprising 63% of total investments in the first quarter of 2024/2025. She also mentioned the January 2025 Purchasing Managers' Index (PMI) reaching a four-year high of 50 points, exceeding the neutral zone. Al-Mashat said the minimum wage increase aims to address current economic changes, promoting economic and social stability. She added that this aligns with International Labour Organization (ILO) guidance on regular minimum wage reviews to protect purchasing power and accommodate economic shifts. Labour Minister Mohamed Gebran said the decision aligns with President Al-Sisi's directives on social protection and improving living standards. He noted the EGP 250 minimum periodic bonus will improve workers' income and ensure their rights amid economic changes. Gebran explained the Labour Ministry will issue guidance to directorates in all governorates outlining the decision's implementation and monitoring mechanisms, as per Labour Law No. 12 of 2003. Minimum wage is a tool used globally to protect low-income workers. The ILO's Global Wage Report 2020-2021 states that 90% of its member states have adopted a minimum wage. Egypt's private sector minimum wage has undergone several adjustments since its inception in January 2022. It started at EGP 2,400, rising to EGP 2,700 in January 2023, EGP 3,000 in July 2023, EGP 3,500 in January 2024, EGP 6,000 in May 2024, and now EGP 7,000 in March 2025, including the employer's social insurance contributions as defined in clause (c) of Article (1) of the Labour Law.
