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Hierarchical restructures next step for Finance Minister: Official - Daily News Egypt

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Hierarchical restructures next step for Finance Minister: Official

Amr Badawi nominated candidate to handle the hierarchical restructures file, says official

Hierarchical restructuring of the ministry and its institutions is chief among Minister of Finance Hany Kadry Dimian’s current concerns, a ministry official told Daily News Egypt on Monday.

“Former executive president and current board member of the National Telecom Regulatory Authority (NTRA) Amr Badawi is one of the main candidates that was elected to handle that file,” the government official said. “Badawi was nominated by the Finance Minister and is just awaiting approval [from the prime minister].”

No details have been released on the exact sectors where the restructuring would take place. The official stressed, however, that the financial auditing of institutions affiliated with the Ministry of Finance will be included.

“One of the current dilemmas is that it can be an official’s obligation to audit his own boss, which of course creates a problem [of credibility],” the official said.

Earlier this month, Dimian announced that the Ministry of Finance plans to submit a bill to regulate the wage system for the cabinet.

The ministry has reduced wage allocations in the budget for the upcoming fiscal year (FY) 2014/2015 to EGP 207bn. This is compared to the EGP 209bn written in the draft budget that was earlier rejected by President Abdel Fattah Al-Sisi.

The wage system in the state’s administrative agencies requires modification, especially concerning minimum and maximum wages, according to Ayman al-Kaffas, the official spokesman of the Ministry of Finance.

“Wages consist of nine types of benefits, representing the greatest percentage of variable pay, and require a comprehensive review,” he said.

During the FY 2013/2014 allocations to wages were EGP 188bn.

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