Uzbekistan to raise utilities tariffs in April

By bne IntelliNews March 17, 2016

Uzbek state-owned companies Uzbekenergo and Uztransgaz have announced that tariffs for electricity and gas in the country will be raised by 8% starting from April 1, according to statements by both companies from March 16. Tariffs will be raised to UZS226 per cubic metre of gas and UZS182 per kWh of electricity.

The companies attributed the increase in tariffs to “the rising prices of fuel and energy resources”. The 8% increases in tariffs for utilities are likely indicative of the actual annual rate of inflation in the country, which has been officially reported at 5.6%, which raises doubts about the government’s figures. Indicators of a much higher inflation rate can also be observed in official increases in other government-set prices and wages. In December, the Uzbek Finance Ministry and State Tax Committee issued a resolution to increase the wholesale and retail prices of alcoholic beverages by 14-28% starting from January 1, 2016, reflecting the state of inflation in the country. Independent press and economic reports see local inflation rates run between 20% and 30% a year.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Uzbek president demands end to sprucing up urban facades ahead of his visits

Uzbek President Shavkat Mirziyoyev has ordered an end to the practice of faking progress in cities and towns by sweeping up streets and repainting fences and old buildings ahead of his visits, the ... more

ADB sees general Central Asia slowdown in 2018

The Asian Development Bank’s (ADB’s) Asian Development Outlook anticipates a general slowdown across the Central Asian region, with the exceptions of Uzbekistan, where the development bank ... more

Uzbekistan planning to issue first Eurobonds with intention to raise $200mn-$300mn

Uzbekistan plans to sell between $200mn-300mn of Eurobonds in 2018 to create a benchmark for Uzbek corporate borrowers, Bloomberg reported on February 22. The country named Raiffeisen Bank ... more

Most Read

  1. Romanian developers get in the game
    3 days ago
  2. Putin and Trump trying to walk back Syria strike and sanctions tensions
    3 days ago
  3. What’s the cost of US sanctions on Russia?
    4 days ago
  4. E-commerce dramatically eats into foot traffic at Moscow’s leading shopping malls
    15 days ago
  5. Romania entrepreneur aims to put home-grown UAV defence technology industry on the map
    5 days ago
  1. Fears raised of US conditioning F-35s sale on Turkey cancelling S-400 deal with Russia
    25 days ago
  2. COMMENT: Whisper it – ‘Erdonomics’ could be driving Turkey to a meltdown
    12 days ago
  3. KRUK REPORT: Nadia Savchenko, Ukraine’s fallen hero
    29 days ago
  4. Romanian developers get in the game
    3 days ago
  5. Putin and Trump trying to walk back Syria strike and sanctions tensions
    3 days ago

Selected articles from our premium news/views wire IntelliNews Pro

Login to IntelliNews Pro
Get IntelliNews Pro

Reports

Dismiss