Guyana Water Inc’s (GWI) failure to take a series of actions including increasing tariffs has resulted in the loss of millions in potential revenue, according to an audit of the utility, even as it continues to operate at a loss and water wastage remains extremely high.
Released by the Ministry of Finance yesterday, the audit report which focused on the period January, 2012 to May 2015, revealed that GWI made a net operating loss of $3.1 billion in 2014 while in 2013 and 2012, the losses were $3.5 billion and $3.9 billion respectively. Accumulated net operating losses over the last three years amounted to $10.5 billion whereas total reported income from water revenue for the same period was $10.1B.
