NWC says $1 trillion needed to meet 2030 development plan targets
The National Water Commission (NWC) says it needs a staggering US$8.5 billion or about J$1.1 trillion to upgrade and expand its services to meet the targets set out in its 2030 development plan.
NWC President Mark Barnett says this means the water utility company needs to spend at least $30 billion annually to achieve its target.
However, he says due to the high rate of delinquency and the limited revenue stream, the NWC is only able to spend about $6 billion annually or just about 20 per cent of what is required.
Barnett recently said the NWC has been considering a number of options, one of which is to sell the approximately $20 billion owed by customers to debt collectors.
He says the level of delinquency by customers is preventing the NWC from doing many essential improvement and expansion projects.
The NWC president says tariffs alone are not able to fund its operations and radical changes in the way it operates will be required.