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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