Saudi Arabia's Communication and Information Technology Commission (CITC) approved on Wednesday cutting wholesale local voice call termination rates on mobile networks (MTR) to SAR 0.055 from SAR 0.10.

Wholesale local voice fixed termination rates were also slashed to SAR 0.021 from SAR 0.045, the telecom regulator said in a statement.

The new decision will come into effect starting from December 23, 2017.

In 2015, the Saudi watchdog reduced wholesale MTRs to SAR 0.15, from the SAR 0.25. In addition, the fixed termination rates were also cut from SAR 0.10 to SAR 0.07.

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