Telecom Minister Says EGP100 mln Expected Profits for Egypt Post by June

Eng. Atef Helmy, Egyptian Telecom Minister said the losses of Egypt post declined with 50% from EGP856 million to EGP436 million, explaining that it is expected to attain around EGP100 million profits after the changes which have done for its board of directors despite the increase of workers’ salaries with EGP400 million.

The Minister met the representatives of Egypt Post in Cairo, Alexandria, Giza, Kafr El-Sheikh, Qena, and some leaderships in order to know the demands and to study the possibility of implementation.

During the meeting, it was agreed to form a committee at the highest level of authority includes legal, financial, administrative and senior management prominent figures  to consider granting the workers 7% periodic rate from the basic salary.

The committee decided to start its work from March9 2014 so that the committee will lift its report regarding the previous topics to review in the first meeting after finalizing its works.