Surprise about increase prices of phone packages
The mobile service companies in the Egyptian market (Vodafone, Etisalat, Orange, and We) confirmed that no application had been submitted to the National Telecommunications Regulatory Authority to increase the cost of services.
Rehab
The rise in the exchange rate of the US dollar opposite pound has caused a decline in the profits of mobile service companies due to the differences in dollar rates, which represents a loss in budgets due to dollar debts on companies.
This increase made citizens wonder about the possibility of mobile companies applying to the National Telecommunications Regulatory Authority to increase the cost of services provided by communication and internet packages.
A well-informed source at the National Telecommunications Regulatory Authority said that if any of the four mobile service companies in the Egyptian market desires to increase the cost of the services provided, they must submit a request to the NTRA to discuss and decide on it.
The mobile service companies in the Egyptian market (Vodafone, Etisalat, Orange, and We) confirmed that no application had been submitted to the National Telecommunications Regulatory Authority to increase the cost of services.
The company officials indicated that if any action is taken in this matter, an official statement will be issued to announce it, and that the rise in the price of the dollar, with which obligations with external parties are paid, causes a rise in operating costs.
It should be noted that the dollar rose from the price of 16.70 pounds at the beginning of this year 2022, to 23.20 pounds, an increase of about 6.5 pounds, by 40%.
The Central Bank of Egypt announced raising the interest rate by 2% in an extraordinary meeting of the Monetary Policy Committee for the first time in 5 months, coinciding with the announcement of a flexible exchange rate policy for the pound Opposite other currencies, which led to an increase in the price of the dollar by about 16% Opposite the pound at the end of last week’s trading. To reach about 23 pounds.
The Central Bank of Egypt also announced, a gradual cancellation of the instructions issued on February 13, 2022, regarding the use of documentary credits in import financing operations, indicating that the complete cancellation will be in December 2022.
