MANILA – The Metropolitan Waterworks and Sewerage System on Wednesday said it would subject Manila Water and Maynilad to more frequent review to ensure compliance with concession agreements.
Regulatory Financial Audits (RFA) will be conducted annually instead of 5 years to ensure that delivery of services are in accordance with its concession agreement, the MWSS said in a statement.
“In its efforts to more efficiently monitor the water concessionaires’ compliance with the concession agreement and delivery of their service obligations, the MWSS Regulatory Office has initiated a yearly conduct of its regulatory financial audit on Manila Water Co Inc and Maynilad Water Services Inc,” the statement said.
The revised schedule takes effect on Nov. 6 while the detailed report is expected to be released by the first quarter of 2020.
The Ayala-lad Manila Water and Manny Pangilinan’s Maynilad were both fined by the Supreme Court, along with the MWSS, for alleged violations of the Philippine Clean Water Act.
The concessionaires are also working to prevent another water crisis from happening again as reserves continue to decline.