President Abdel-Fattah El-Sisi
The president made the announcement during a speech at the Sharqiya Sugar Company on Labour Day.
Under the decision, the fund will disperse EGP 1,000 (about $32) to irregular workers who are not covered by other social protection programmes.
The number of irregular workers in the labour market is estimated at 11.8 million, according to official figures.
Irregular workers will be issued updated Aman life insurance certificates that will also cover work injuries, the president announced.
Any outstanding benefits from social protection programmes due to irregular workers will be transferred to the fund and will go towards emergencies.
The final version of the draft legislation must preserve workers’ rights as well as a guarantee an investment-friendly environment, the Egyptian president asserted.
The president also announced the launch of a national campaign to encourage youth to launch their small and medium projects.
The president directed all business establishments to adhere to international labour standards, stressing all relevant parties must ensure that domestic labour legislation does not contradict international labour conventions ratified by Egypt.
On this note, the president directed the Supreme Council for Social Dialogue to moderate a dialogue between representatives of labour and the business community on drafting a new labour law in the parliament.
Additionally, El-Sisi urged all relevant ministries and authorities to promptly complete the national plan for achieving gender quality in the workforce, originally launched in 2022.
He stressed on the need to integrate women in the labour market, through the provision of a safe work environment and ensuring work-life balance, he added.
The president further directed the public and private sector to follow the legally enshrined requirement of having an at least five percent employment rate of differently abled people in their work force.
The president instructed all relevant ministries and authorites to continue to develop human resource skills to match future labour requirements.
During the event, which was attended by top state and trade union officials, El-Sisi honoured a number of distinguished workers on the occasion of the international workers holiday.
The president's decsion today to establish an emergency fund for irregular workers is the latest in a series of steps taken recently by the government to help low and limited income citizens deal with inflationary pressures amid a global economic crisis.
In late April, President El-Sisi directed a 50 percent increase in appropriations for various subsidy and social protection programs in the budget for FY2023/2024.
A month earlier, the president raised the minimum wage for government employees to EGP 3,500 and pensions by 15 percent, a decision which went into effect on 1 April.