CAIRO: The final batch of redundancy payments was delivered to Amonsito workers on Wednesday following a long battle for their financial entitlements.
Amonsito employee Khaled El-Shishawy told Daily News Egypt that redundancy packages of between LE 15,000 and LE 70,000 were paid out to workers according to the length of their tenure with the company.
The textile factory was left heavily debt-ridden by Syrian-American businessman Adel Agha, who fled the country in 2007. Workers received their salaries intermittently or not at all for the following three years.
In March 2010, after a 21-day sit-in by workers outside parliament, an agreement was reached between the Ministry of Manpower and Immigration and Bank Misr, which, as creditor is responsible for liquidating the company’s assets whereby workers would be paid LE 106 million.
When this agreement was not upheld workers resumed their sit-in.
The offer of LE 106 million was subsequently reduced to LE 50 million on May 24, when Amonsito workers’ two-week sit-in outside parliament was forcibly dispersed by security bodies.
It was eventually agreed that Bank Misr would pay out LE 65 million.
