Dizzy News

Domestic users will be slapped with a five percent hike in electricity tariffs and an eight percent hike in bus and rail fares, as the Treasury factors in ‘corrections’ to trim its subsidy budget. Domestic users will be slapped with a five percent hike in electricity tariffs and an eight percent hike in bus and rail fares, as the Treasury factors in ‘corrections’ to trim its subsidy budget.

With global crude skirting the
psychological US$ 50 a barrel mark, the Treasury is gradually reigning in fuel
subsidies to better reflect world prices.

Translated, that means
impending tariff hikes in electricity, 50 percent of which is thermal fired, and
in commuter fares – the two largest users of diesel.

Industrial and commercial
sectors that cross subsidise the 60 percent of domestic electricity users, will
be cushioned from the electricity tariff hike, Treasury Secretary Dr. P B
Jayasundera said Monday.

The price revisions, at least
in the case of petrol, h