NWC Is Bankrupt – Senator Aubyn Hill


 

The National Water Commission is the main agency responsible to collect, refine and distribute water to industrial and domestic consumers across the island.

However, the agency has a negative net worth of 12.6 billion Jamaican dollars for over a decade caused by losses from as far back as 2004.

According to Senator Aubyn Hill, the water agency is technically bankrupt. He said, “if it wasn’t owned by the government, it couldn’t run”. He further explained that the NWC is not sustainable as it is unable to keep up with the demands.

The suggestion of some technocrats is to privatize or monetize the agency.

Senator Hill pressed for Jamaicans to support the governments’ push to bring down the debt as they aim to socialize wealth.

He further outlined that the commission has an unfunded pension liability of 30 Billion dollars. He quickly noted that this was an expense inherited by the Andrew Holness led administration from previous administrations.

The agency’s chair also stated that external auditors KPMG have indicated doubt about NWC’s ability to continue.

Hill was speaking at the G2K Water Forum on Thursday, September 13.

 

Shannon-Dale Reid

No comments

Leave a reply

Your email is never published nor shared. Required fields are marked *

CAPTCHA *