South Africa's continued power supply crisis poses the biggest obstacle to growth, while state support to ailing utility Eskom and increased public sector wages may weigh on public finances, the International Monetary Fund said. "As the electricity crisis has deepened, only a muted recovery to 2 percent growth is expected in 2015-16," the IMF said in a report.Price hikeEskom's acting CEO Brian Molefe said the utility had reduced its price hike request to 9.5 percent from 12.7 percent, foregoing a 2.51 percent environmental levy because the National Treasury might not pass it into law in time.Eskom, which is facing its worst power shortages, was granted 12.7 percent tariff hike in April and its latest request, if granted, would take prices increases to a total of more than 22 percent.The tariff hikes would be implemented next year, according to a circular issued by the National Treasury.The increases were initially scheduled to be take effect from July 1 this year, according to Eskom.Industry warns of job lossesThe South African ferrochrome industry could face a closure of smelters and possibly as much as 200,000 job losses due to higher electricity prices, an industry body said on Tuesday."The increase in electricity prices will further increase production costs and lead to the closure of most smelters in South Africa," said Jacobus Zaayman, a representative from the Ferro-Alloys Producers Association at a public hearing to consider power utility Eskom's application for a tariff raise.South African gold producer Sibanye Gold warned on Tuesday Eskom's proposed electricity price increase could lead to mine closures and job losses, a senior official said."The unsustainable electricity price increases will lead to diminished operating performance, early closure of mines, job losses and reduced capital investment," said Peter Turner, a Senior Vice President of Sibanye Gold at a public hearing to consider Eskom's latest application to hike tariffs.Eskom sukuksEskom will issue Islamic bonds or sukuks in international markets its acting chief executive said on Tuesday, as the cash-strapped utility is seeking a tariff increase.Eskom, whose credit-rating was downgraded to junk in March by Standard & Poor's is battling to keep the lights on in Africa's most advanced economy where it is the main supplier.Speaking at a public hearing held by the National Energy Regulator of South Africa (NERSA), Molefe said the utility will be approaching international bond markets with sukuks and other debt instruments."We will go to the international markets, there is a lot of sukuks that we will explore as well as private placements," Molefe said...