Report: Egypt President Approves Cell Phone Line Price Hike

CAIRO (AP) — Egypt's state-run Al-Ahram newspaper is reporting that President Abdel-Fattah el-Sissi has ratified amendments to an existing law that raise the price of new cellular phone lines and monthly charges. The decision, published in the official gazette and reported on the Al-Ahram website Thursday imposes 50 Egyptian pounds ($2.79) on new cellular phone lines and 10 Egyptian pounds ($0.56) on monthly bills. The amendments also steeply hike the price of issuing or renewing passports, licensing of cars and foreigners' residency applications. Egypt has introduced a wave of price hikes, including for fuel, drinking water and electricity as part of austerity measures designed to overhaul the economy, whichis still recovering from a costly 2011 uprising. Economic reforms started shortly after el-Sissi took office in 2014, hitting poor and middle-class Egyptians especially hard.Read more on NewsOK.com

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