WASCO's high debt will not result in increase costs for consumers
|
|
|
Contact: Claudia Monlouis
Friday, June 20, 2008 – Minister for Communications, Works, Transport and Public Utilities Honourable Guy Joseph has sought to allay public concerns about government’s bid to engage private sector participation in the provision of water services and sanitation.
Mr. Joseph emphasises that the Water and Sewage Company (WASCO) has been swimming in a substantial amount of debt for some time, and this situation warrants urgent attention. The company's debt is said to be over the one hundred million dollar figure.
Minister Joseph has reaffirmed government has, and will continue to tread carefully as it (government) appreciates that water is a basic necessity, which must remain affordable, accessible and available to all.
“There is the Regulatory Commission for water that is to be put in place, who would determine the price, and it would not be the persons operating the water sector. So all the operators would do is make a request and try and give justification as to why they are looking for a particular price. The outcome would be made by the Water Commission which would be responsible to review and make a determination as to whether the price is adequate or not,” he explained.
The minister said sound structures will be adopted to maintain the integrity of the water sector. At this stage, the legislative framework to support such an environment is being strengthened. Minister Joseph said there’s the need to enhance the efficiency of the supply of water and sewerage services on the island as matters of priority. |
|
© 2008 Government Information Service. All rights reserved. Read our privacy guidelines. |
