He stressed that the Minister of Finance will issue a statement clarifying the details of a draft of deduction of 1% of the employees ’salaries, indicating that the Economic Authority balanced it with a law and does not enter the state’s general budget, so legislation must be enacted. He explained that the Council of Ministers is the body charged with clarifying what concerns the proposals for a bill to deduct 1% of employees ’salaries.
The proposal includes, starting May 1, 2020, a monthly deduction of 1% of salaries and wages (basic – functional – comprehensive) for workers in the country for a period of 12 months, in order to contribute to financing some of the economic effects resulting from the consequences of facing the emerging corona virus. “And if this was agreed upon, The proposal would be sent to Parliament for consideration during the sessions scheduled for May 17 of this month.
The first article of the draft law states: “As of May 1, 2020, 1% of salaries and wages (basic – job – comprehensive) for state workers shall be deducted every month for a period of 12 months, in order to contribute to financing some of the economic effects resulting from the consequences of facing the emerging Corona virus. “.
According to the draft law: “The authorities, bodies, agencies, and companies stipulated in the law shall pay the worker or the salary of the worker, after deduction of the percentage referred to and its supply, and for each violation of that, the competent worker shall be disciplined.”
The law also stipulated that: “The Ministry of Finance will establish a bank account for the Central Bank of Egypt within the consolidated treasury account in the name of the account of the consequences of the emerging Corona virus, in which the amounts that are deducted will be deposited according to the provisions of this law. Negativity to the emerging corona virus. “