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Tuesday, 20 September 2016

Gov’t, MNOs agree to raise prices of mobile recharge cards 10%

Gov’t, MNOs agree to raise prices of mobile recharge cards 10%: The Finance Ministry, the National Telecommunication Regulatory Authority (NTRA) and mobile network operators have reached an agreement to raise the price of phone recharge cards 10%, 6 ppt of which will go towards the value-added tax (VAT), while the remaining 4 ppt will go to the consumer in the form of additional minutes of airtime, said Deputy Finance Minister Amr El Monayer in a call-in to CBC’s Hona Al Asema (runtime: 9:20). El Monayer said consumers should pay only the official price and will be able to report price-gouging retailers on a hotline and website the ministry is setting up. MNOs, the ministry and the NTRA have been locked on meeting for the past two days to determine the pricing of recharge cards post-VAT, after retailers begun significantly raising the prices following the adoption of the VAT last week.

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