The Lebanese government will pass a law to allow local operators Touch and Alfa to significantly raise tariff prices on July 1 to aid the flagging telecoms sector.
The move comes after both operators urged the government to mandate price rises to stabilise telecoms and other industries that rely on vital communications such as health security and government.
Lebanon is currently enduring a deep economic crisis which has resulted in telecom players scrambling for diesel to continue fuelling their operations.
Alfa and Touch will raise tariff prices fivefold, and fixed telephony and broadband provider Ogero will more than double its rates, reported L’Orient Today.
Telecoms Minister Johnny Corm said the price increases are critical to prevent networks from collapsing and pointed to the sector’s plummeting combined revenues.
Alfa and Touch have revealed their combined annual income plummeted from US$1.4 billion in 2018 to US$75 million this year.