Cairo – Mubasher: Egypt’s parliament passed a draft law involving new financial incentives for 2.1 million of employees in public and Azhar education schools at a cost of EGP 6.6 billion without insurance expenses.
The draft law, previously approved by the cabinet, includes a new pay system for teachers and the establishment of a social and financial fund for teachers and other employees in the education sector, the Minister of Finance, Mohamed Maait, said in a statement on Sunday.
The new financial incentives, effective as of 1 January 2021, include salary raises between EGP 390 to EGP 630.
The benefits also include a 50% increase in the teacher allowance, ranging from EGP 75 to EGP 180, at a cost of EGP 1.8 billion and a 50% rise in the monthly incentive at a value from EGP 140 to EGP 185 at a total cost of EGP 1.2 billion.
