MANILA, Philippines — Water concessionaires continue to rake in high profits amounting to billions of pesos despite being inefficient in assuring stable water supply to their consumers, a water advocacy group said on Saturday. “Corporate management of water services has been efficient in producing profits but inefficient in ensuring cheap, safe and secure water services to millions of consumers,” the group Water for the People Network (WPN) said, as quoted by the research organization Ibon Foundation. According to WPN, net incomes of Manila Water and Maynilad have increased by 137% and 444%, respectively, in the last 10 years. “Such large profits amid looming months of erratic water supply for so many consumers is grossly unacceptable,” WPN said. /jpvADVERTISEMENTRELATED STORIESGov’t partly to blame for water shortage — MWSS execManila Water issues service cutoff schedule in Metro Manila, RizalManila Water: Shortage may be over before summer’s endRead NextLATEST STORIESMOST READ

Source: Philippine Daily Inquirer March 16, 2019 01:30 UTC