Businesses say electricity tariff hike the death knell of many enterprises

The implementation of electricity tariff hikes will only lead to the end of many businesses, both big and small, according to restaurateurs, mall businesses and retailers.

The businesses said a "humongous" tariff hike of 15 percent, or up to a 25 percent hike on off-peak tariff, would result in a snowball effect on the costs of goods and services and further depress the country's economic recovery.