On February 1, Syria’s mobile network provider Syriatel increased the prices of its internet packages without official announcement.
Last night, Syriatel network users received a message containing the prices of new internet packages, showing that the monthly subscription fee for an 80GB internet package has reached 196,000 Syrian pounds, compared to 87,500 Syrian pounds previously. .
On local social media pages, prices for new internet packages ranged from £3,500 for 500MB to £82,000 for a 10-day 50GB package. Monthly packages, on the other hand, ranged from £8,000 per gigabyte to £236,000 per 110 gigabytes.
The price of some packages exceeds the minimum wage for civil servants in regions controlled by the regime. This wage amounted to 185,940 Syrian pounds (equivalent to 13.2 USD) after the latest increase in mid-August.
The price increase came after Syriatel discontinued all packages without any official announcement from Syriatel itself or the Syrian Telecommunications Company.
Price rise, profit growth
Under the pretext of “ensuring service continuity”, the Syrian Telecommunications and Postal Regulatory Authority has increased the prices of mobile phone and fixed communications services twice in 2023. Financial numbers from both companies show the price increases are an attempt to maintain profit margins. On the other hand, there were no noticeable changes in the scope and quality of services.
According to the decision issued on October 25, 2023, the most recent examples include an increase in basic charges for mobile phone services by 25-35% and fixed telecommunications services and internet charges by 30%.
At the time, the decision was aimed at “ensuring the continuation of the provision of basic services from operating companies in the telecommunications sector to all subscribers and ensuring that companies bear the costs of these services as a direct result of the current economic situation.” It was justified on the grounds that “we will make it possible”. and soaring oil derivative prices and exchange rates. ”
Syriatel achieved significant profits and growth.According to data tracked by Inab Baladiin the first nine months of 2023 the company’s revenue reached nearly 1 trillion Syrian pounds, while in the same period in 2022 it was 456.6 billion, representing a growth rate of 122%.
Syriatel’s net profit, not taking into account unrealized currency valuation differences, reached £202.5 billion at the end of September 2023, compared to £97 billion in the same period in 2022, and Syriatel’s profit growth rate reached 108%. did.
According to the website SP Today, which specializes in monitoring foreign exchange rates, at the time of this report, the exchange rate of the Syrian pound reached 14,775 against the US dollar.
