Beirut – 29 April, 2022: Mobile telecommunications companies touch and alfa announced that the adoption of the decree to amend the prices of mobile telecommunications has become an urgent and imperative need to ensure the continuity of the sector, otherwise the future of the two companies and the sector in general will be in danger, which will also be reflected in the future of all public and private sectors, including hospitalization and banks, factories, hotels and various companies, as they depend in their operating systems on the telecommunications sector.

 

According to the two companies’ combined figures, their annual income declined from $1.4 billion in 2018 to only $75 million currently, as per the black market exchange rate, due to the economic crisis that has afflicted the country since 2019. On the other hand, the two companies managed to reduce annual expenses from 560 million USD in 2018 to less than half, which is approximately 255 million USD.

 

However, these expenses, in addition to the suppliers’ dues due over three years, amounting to 40 million USD annually, totaling 295 million USD, are equivalent to four times the incomes, that don’t currently exceed 75 million USD per year, thus the urgent need to adopt an amendment decree of the mobile telecommunications tariffs as soon as possible, to curb this decline in revenues and be able to maintain the viability of the mobile telecommunications sector.