The Guyana Water Incorporated (GWI) has raked in revenue in excess of $4Billion in 2018, an increase of $3.6Billion or 10% over 2017.
Speaking at the water company’s year-end press conference on Monday, Managing Director, Dr Richard Van West-Charles credited the increase in revenue to a more intense approach to debt collection.
The increase also resulted from the reduction of the sum owed to the company from $5.2B to $3.6B, by defaulters last year.
Dr Van West-Charles explained that the increase in revenues will go towards bridging some of the gaps that exist within the networks and improving the water systems across the country.
“As we go through the years, there are some calls from some communities, for instance, I got a call from a community in Region Three (La Harmonie) and we got in there and there are a number of homes not connected to the system and obviously we have to run lines so that they can get access and that costs.” Dr. Van West-Charles added “so, the money that we have is then applied to these different projects. Looking at ensuring that that water at the schools are tested on a timely basis, we have to purchase reagents, so these additional resources collected, which are due are applied in that manner,” Dr. Van West-Charles explained.
Additionally, the Public Utility Commission approved the harmonized tariff of $250. “This now enables us to apply the fixed charge in a real way. So, that residents become aware as to where the fixed charge is being applied for the improvement of the distribution network… Now in 2018, October, November and December the fixed charge as we would have agreed with the PUC would be applied to the distribution networks and improvements of the network and addressing some of the gaps throughout the country.”
Some of the resources from the fixed charge will go towards Soesdyke, Crabwood Creek, Providence Phase Three, Farm and Covent Gardens, Bush Lot, Skull City in Region Three and Good Intent among others.
GWI has projected a $5.8B revenue for 2019.