Rate adjustment to be imposed due to foreign exchange--Manila Water | Inquirer Business

Rate adjustment to be imposed due to foreign exchange–Manila Water

/ 04:28 PM July 17, 2012



MANILA, Philippines—Manila Water spokesman Jeric Sevilla said Tuesday the water rate adjustment will be imposed due to changes in foreign exchange.

In an interview with anchors Susan K, Den Macaranas and Captain Dylan Halili of “Good Morning Inquirer” on Radio Inquirer 990AM, Sevilla said the price hike, under the Foreign Currency Differential Adjustment, will be imposed following changes in the exchange of peso against other foreign currencies.

He, however, clarified that whatever returns they will get from the adjustment will not go to Manila Water Company, but will be remitted back to the government to be used as its payment for the money it borrowed several years back.

Sevilla said the adjustment is based on the exchange rates of $1:P42.70 during the last three months from April to June.

Due this, households consuming 20 cubic meters per month for P299 pesos will now pay P303 per month, while households consuming 30 cubic meter per month for P608, will go up to P617.

“Low-income households consuming 10 cubic meters a month or less will be exempt from the adjustment,” he said.

For the full interview, listen to the attached audio clip from Radyo Inquirer 990AM.

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TAGS: Consumer Issues, Foreign Exchange, Manila Water

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