Egypt’s telecom operators incur EGP 5B after fuel prices surge

Updated 11/6/2023 7:36:00 AM
Egypt’s telecom operators incur EGP 5B after fuel prices surge

Arab Finance: Egyptian mobile network operators have incurred EGP 5 billion after the recent increase in fuel prices, Asharq Business reported, citing two sources familiar with the matter.

This will force telecom companies to raise prices of their services as of 2024, the sources said.

The firms will convene this week to discuss their price increase plans and urge the National Telecom Regulatory Authority (NTRA) to approve them, one source noted.

On November 3rd, the Egyptian Fuel Pricing Committee announced raising fuel prices by around EGP 0.70 to EGP 0.125 per liter.

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