This move is aimed at maximizing the social and developmental returns from the fund.
By: Mohamed Zain
Mon, May. 1, 2023
Egyptian President Abdel Fattah El-Sisi has directed the creation of an emergency aid fund for irregular workers and the transfer of social and health account dues to the fund, allowing for sustainable investment and spending in times of crisis.
This move is aimed at maximizing the social and developmental returns from the fund, ensuring that irregular workers are better protected in the event of emergencies and crises.
Additionally, President El-Sisi has instructed the activation of the fund as soon as the legal procedures are finalized, disbursing an urgent assistance payment of EGP 1,000 to irregular workers who are not beneficiaries of social protection programs.
During the Labor Day celebrations, President El-Sisi commented on the speech of Dr. Mohamed Helmy Hilal, Chairman of the Board of Directors of " Futek" for Energy Conservation Equipment Production, saying that the state is ready to support and assist the factory to increase the local product percentage from 50% to 60%, and then to 90% or 100%.
He added that if the country succeeds in achieving a full or semi-full local component for the product, there will be no burden on the economy, but rather job opportunities will increase, and the pressure on the dollar will decrease.
Moreover, President El-Sisi stated during the Labor Day celebration at the Eastern Sugar Company that the government has reduced the use of street lighting, but at least in new streets, companies should be contracted to install lamps that benefit new projects, with a plan in place to replace ordinary lighting with these lamps.
The Egyptian government has been taking a series of measures to support irregular workers, who make up a significant portion of the workforce, especially during the COVID-19 pandemic. These measures include the allocation of EGP 500 million to the irregular labor fund, as well as a program that provided EGP 500 per month to eligible irregular workers for three months.